KUALA LUMPUR, Aug 1 — Short-term interbank rates closed steady today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

Liquidity in the conventional system eased to RM38.62 billion from RM42.34 billion this morning while Islamic funds fell to RM29.89 billion from RM35.44 billion previously.

The central bank had earlier called for two conventional money market tenders, a reverse repo tender as well as three Qard tenders.

At 4 pm, it called for an RM38.6 billion conventional money market tender and an RM29.9 billion Murabahah money market tender, both for three-day money.

The average Islamic overnight 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 1.85 per cent, respectively. — Bernama