KUALA LUMPUR, Sept 29 — Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

The liquidity in the conventional system eased to RM40.70 billion from RM42.90 billion this morning, while in the Islamic system, it declined to RM13.20 billion from RM17.89 billion.

Earlier today, BNM conducted four conventional money market tenders and one Qard tender.

The central bank revised the conventional overnight tender to RM40.7 billion from RM39.8 billion.

At 4pm, BNM called for a RM40.70 billion conventional money market tender and a RM13.20 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, 1.81 per cent and 1.85 per cent, respectively. — Bernama