Short-term rates close stable on BNM's operations

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KUALA LUMPUR (Sept 20): Short-term interbank rates closed stable today on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the financial system.

The surplus in the conventional system declined to RM22 billion from RM23.68 billion this morning, while in the Islamic system, it contracted to RM13.6 billion from RM17.91 billion.

Earlier today, BNM issued four tenders comprising two conventional, an Islamic range maturity auction Qard and a reverse repo.

The central bank would also call for Bank Negara Interbank Bills on Sept 24.

At 4pm, BNM conducted a RM22 billion conventional money market tender and a RM13.6 billion Murabahah money market tender, both for three-day money.

The average Islamic overnight interest rate stood at 2.95 percent, while the one-, two- and three-week rates were pegged at 3.03 percent, 3.07 percent and 3.12 percent, respectively.