KUALA LUMPUR, Aug 3 — Short-term interbank rates closed steady today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.
Liquidity in the conventional system slipped to RM36.49 billion from RM41.72 billion this morning while Islamic funds picked up slightly to RM28.90 billion from RM28.80 billion previously.
The central bank had earlier called for three conventional money market tenders as well as a commodity murabahah programme tender.
BNM revised the murabahah overnight tender from RM26.8 billion to RM27.9 billion.
At 4 pm, it called for a RM36.50 billion conventional money market tender and a RM27.90 billion murabahah money market tender, both for one-day money.
The average Islamic overnight rate stood at 1.72 per cent while the one-, two- and three-week rates stood at 1.78 per cent, 1.82 per cent and 1.85 per cent. — Bernama