KUALA LUMPUR, Aug 10 — 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 shrank to RM33.28 billion from RM37.76 billion this morning, while in the Islamic system, it reduced to RM12.74 billion from RM15.76 billion.

Earlier today, the central bank conducted three conventional money market tenders, two Qard tenders and a Reverse Repo tender.

At 4pm, BNM called for a RM32.50 billion conventional money market tender and a RM12.70 billion Murabahah money market tender, both for one-day money.

The central bank revised the conventional overnight tender to RM32.50 billion from RM32.10 billion.

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, 1.82 per cent and 1.87 per cent, respectively. — Bernama