KUALA LUMPUR, Oct 12 — 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 declined to RM31.79 billion from RM34.8 billion this morning, while in the Islamic system, it trimmed to RM13.1 billion from RM19.44 billion.

Earlier today, BNM conducted two conventional money market tenders, a Qard Islamic Range Maturity tender and a reserve repo tender.

At 4 pm, the central bank called for a RM31.8 billion conventional money market tender and a RM13.1 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 1.86 per cent, respectively. — Bernama