KUALA LUMPUR (Oct 12): Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.
Liquidity in the conventional system reduced to RM31.70 billion from RM36.01 billion on Tuesday morning, while in Islamic funds, it fell to RM21.11 billion from RM26.59 billion previously.
Earlier on Tuesday, the central bank issued three conventional money market tenders and an Islamic range maturity auction (iRMA) Qard tender.
BNM revised the Murabahah overnight tender to RM20.1 billion, from RM18.6 billion.
At 4pm, BNM called for a RM31.7 billion conventional money market tender and a RM20.1 billion Murabahah money market tender, both for one-day money.
The average Islamic overnight interest rate stood at 1.72%, while the one-, two- and three-week rates stood at 1.78%, 1.81% and 1.85% respectively.