KUALA LUMPUR, March 9 — Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

Liquidity in the conventional system eased to RM35.294 billion from RM39.353 billion this morning, while in the Islamic system, it fell to RM22.240 billion from RM25.111 billion previously.

Earlier today, BNM conducted two conventional money market tenders, one Islamic range maturity auction (iRMA) Qard tender and one reverse repo tender.

At 4pm, the central bank called for a RM35.3 billion conventional money market tender and a RM21.2 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 1.72 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