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

The surplus in the conventional system decreased to RM20.00 billion from RM28.92 billion this morning, while in the Islamic system, it reduced to RM17.29 billion from RM23.31 billion.

Earlier, BNM conducted two conventional money market tenders and one Islamic range maturity auction.

BNM also revised the Murabahah overnight tender from RM15.7 billion to RM16.2 billion. 

At 4 pm, the central bank conducted a RM20.0 billion conventional money market tender and a RM16.2 billion Murabahah money market tender, both for three-day money.

The average Islamic overnight interest rate stood at 3.19 per cent, while the one-, two- and three-week rates were pegged at 3.26 per cent, 3.30 per cent and 3.35 per cent, respectively. — Bernama