KUALA LUMPUR, July 23 ― 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 RM14.99 billion from the RM23.65 billion estimated in the morning while in the Islamic system, it was trimmed to RM2.30 billion from RM5.67 billion.

In the morning, Bank Negara conducted three Al-Wadiah tenders, two repo tenders and a range-maturity auction. 

BNM also conducted a late conventional money market tender for RM15 billion and a RM2.3 billion Al-Wadiah money market tender, both for one-day money.     

At the 11am fixing, the underlying three-month KLIBOR stood at 3.59 per cent. 

The overnight Islamic reference rate stood at 3.22 per cent while the one-, two- and three-week rates stood at 3.26 per cent, 3.29 per cent and 3.32 per cent, respectively. ― Bernama