BNM's intervention helps short-term rates close stable

Short-term interbank rates closed stable today on Bank Negara Malaysia's intervention to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional system fell to RM34.09 billion from RM41.95 billion earlier, while in the Islamic system, it declined to RM8.35 billion from RM11.13 billion.

Earlier, BNM conducted four conventional money market tenders and two Qard tenders.

The central bank also conducted a RM34.0 billion conventional money market tender and a RM8.3 billion Qard money market tender, both for one-day money.

The overnight Islamic reference rate stood at 2.95 per cent, while the one-, two- and three-week rates stood at 3.02 per cent, 3.06 per cent and 3.10 per cent, respectively. - BERNAMA