KUALA LUMPUR, Aug 2 — 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 slipped to RM38.49 billion from RM43.90 billion this morning while Islamic funds fell to RM27.39 billion from RM34.44 billion previously.

The central bank had earlier called for three conventional money market tenders as well as three Qard tenders.

At 4 pm, it called for an RM38.50 billion conventional money market tender and an RM27.40 billion Murabahah money market tender, both for one-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