KUALA LUMPUR, Oct 18 — 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 RM32.30 billion from RM37.76 billion this morning, while in Islamic funds, it fell to RM20.20 billion from RM25.87 billion.

Earlier today, the central bank issued four conventional money market tenders as well as an Islamic range maturity auction tender and a reverse repo tender.

At 4 pm, BNM called for a RM32.30 billion conventional money market tender and a RM19.90 billion Murabahah money market tender, both for two-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, 1.82 per cent and 1.86 per cent, respectively.

The market will close tomorrow to observe Prophet Muhammad’s birthday. — Bernama