KUALA LUMPUR, July 25 — Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional system fell to RM23.85 billion from RM27.56 billion earlier, while in the Islamic system, it declined to RM5.29 billion from RM10.54 billion.

BNM had earlier conducted five tenders—three conventional money market, a Qard and a reverse repo.

The central bank also conducted a conventional money market tender of RM23 billion and a RM5.6 billion Qard, both for one-day money.

The overnight Islamic reference rate was one per cent higher at 2.95 per cent, while the one-, two- and three-week rates stood at 3.02 per cent, 3.07 per cent and 3.11 per cent, respectively. — Bernama