KUALA LUMPUR, July 30 — Short-term interbank rates closed stable today following Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.  

The liquidity surplus in the conventional system fell to RM16.76 billion from the RM26.05 billion estimated in the morning, while in the Islamic system, it was trimmed to RM5.45 billion from RM7.30 billion.

In the morning, BNM conducted a range-maturity auction and a repo tender as well as two Al-Wadiah tenders.

The central bank also conducted a late conventional money market tender for RM16.8 billion and RM5.4 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-week, two and three-week rates stood at 3.26 per cent, 3.29 per cent and 3.32 per cent, respectively. — Bernama