Money Market

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

The liquidity in the conventional system fell to RM27.7 billion from RM32.24 billion yesterday morning, while in the Islamic system, it declined to RM15.6 billion from RM19.03 billion.

Earlier yesterday, BNM conducted two conventional money market tenders and one Qard-Islamic Range Maturity tender.

At 4 pm, the central bank called for a RM27.7 billion conventional money market tender and a RM15.6 billion Murabahah money market tender.

The average Islamic overnight interest rate stood at 1.73 per cent, while the one-, two- and threeweek rates stood at 1.78 per cent, 1.81 per cent and 1.86 per cent, respectively.