KUALA LUMPUR, July 1 — Short-term interbank rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.   

BNM estimated today’s liquidity at RM29.36 billion in the conventional system and RM14.4 billion in Islamic funds.

The central bank will conduct two conventional money market tenders worth RM1.5 billion for seven days and RM1 billion for 33 days.

It will also conduct a Qard tender of RM4.6 billion for five to 14 days and Commodity Murabahah Programme tenders comprising RM500 million for 21 days and RM1.2 billion for 33 days.

At 4pm, BNM will conduct up to RM26.9 billion in conventional overnight tender, as well as, a RM8.1 billion Qard overnight tender. — Bernama