MONEY MARKET

SHORT-TERM interbank rates closed stable yesterday on Bank Negara Malaysia’s (BNM) operations to absorb excess liquidity from the financial system.

The surplus in the conventional system fell to RM23.45 billion from RM28 billion earlier, while in the Islamic system, it declined to RM9.55 billion from RM15.03 billion, previously.

BNM had earlier called for two conventional money market tenders, three Qard and a reverse repo tender.

At 4pm, the central bank conducted a RM22.3 billion conventional money market tender and a RM9.5 billion Qard money market tender, both for one-day money.