KUALA LUMPUR, July 14 — Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

The surplus in the conventional system eased to RM28.0 billion from RM31.46 billion this morning, while in the Islamic system, it fell to RM16.20 billion from RM23.51 billion.

Earlier today, the central bank conducted three conventional money market tenders, a Commodity Murabahah programme tender and a Qard-Islamic Range Maturity (iRMA) tender.

At 4pm, the central bank called for a RM27.2 billion conventional money market tender and a RM16.2 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 1.73 per cent, while the one-, two- and three-week rates stood at 1.78 per cent, 1.83 per cent and 1.87 per cent, respectively. — Bernama