KUALA LUMPUR, Oct 20 — 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 fell to RM34.10 billion from RM35.89 billion this morning, while in Islamic funds, it narrowed to RM19.70 billion from RM25.43 billion.

Earlier today, the central bank issued two conventional money market tenders, a repo tender as well as a Qard tender-Islamic range maturity auction.

At 4 pm, BNM called for a RM33.60 billion conventional money market tender and a RM19.40 billion Murabahah money market tender, both for one-day money.

BNM revised the conventional overnight tender from RM32.7 billion to RM33.6 billion.

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. — Bernama