KUALA LUMPUR, July 6 — Short-term interbank rates closed steady today on Bank Negara Malaysia’s operations to absorb surplus liquidity from the financial system.
Liquidity in the conventional system rose to RM61.44 billion from RM58.15 billion this morning while for Islamic funds, it eased to RM35.77 billion from RM38.49 billion previously. The central bank had earlier called for a conventional money market tender, one Qard tender and one reverse repo tender. At 4pm, BNM called for a RM60.4 billion conventional money market tender and a RM35.8 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, respectively. — Bernama
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