Money Market

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

The surplus in the conventional system declined to RM23.54 billion from RM25.71 billion in the morning, while in the Islamic system, it fell to RM12 billion from RM15.71 billion.

Earlier yesterday, the central bank conducted two conventional money market tenders as well as a Qard Islamic Range Maturity Auction tender.

At 4 pm, BNM conducted a RM22.7 billion conventional money market tender and a RM12 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 2.96 per cent, while the one-, two- and three-week rates were pegged at 3.03 per cent, 3.07 per cent and 3.12 per cent, respectively.