KUALA LUMPUR, June 26 — Short-term interbank rates closed stable today following Bank Negara Malaysia’s intervention to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional system fell to RM19.99 billion from the RM27.069 billion estimated in the morning, while in the Islamic system, the excess declined to RM2.81 billion from RM4.475 billion.                             

In the morning, the central bank called for three conventional money market tenders and an Islamic range maturity auction.               

Bank Negara conducted a late conventional money market tender for RM19.5 billion and a RM2.4 billion Al-Wadiah money market tender, both for one-day money.                            

The overnight Islamic reference rate stood at 2.96 per cent, while the one-week, two and three-week rates stood at 3.05 per cent, 3.09 per cent and 3.13 per cent, respectively.  — Bernama