KUALA LUMPUR, Aug 8 —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 narrowed to RM36.81 billion from RM38.70 billion this morning while Islamic funds fell to RM23.62 billion from RM29.61 billion previously.

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

At 4 pm, it called for a RM36.80 billion conventional money market tender and a RM23.6 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. — Bernama