KUALA LUMPUR, Sept 6 — 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 decreased to RM31.42 billion from RM37.06 billion this morning, while in Islamic funds, it retreated to RM20.43 billion from RM23.38 billion previously.

Earlier today, BNM issued three conventional money market tenders, one Islamic range maturity auction (iRMA) Qard tender as well as reverse repo tenders.

At 4 pm, the central bank called for a RM31.4 billion conventional money market tender and a RM19.4 billion Murabahah money market tender, both for one-day money.

BNM revised the Murabahah overnight tender from RM17.2 billion to RM19.4 billion.

The average Islamic overnight interest rate stood at 1.72 per cent, while the one-, two- and three-week rates stood at 1.77 per cent, 1.81 per cent, and 1.85 per cent, respectively. — Bernama