KUALA LUMPUR, Jan 4 — 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 slipped to RM36.20 billion from RM48.27 billion this morning, while in the Islamic system, it fell to RM24.70 billion from RM29.43 billion.

Earlier today, BNM called for a range maturity auction (RMA) money market tender and an Islamic range maturity auction (iRMA) Qard tender.

At 4pm, the central bank called for a RM36.20 billion conventional money market tender and a RM24.70 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