KUALA LUMPUR, Aug 10 — 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 RM35.29 billion from RM36.75 billion this morning while Islamic funds expanded to RM22.89 billion from RM22.45 billion previously.

The central bank had earlier called for conventional money market tenders and two commodity murabahah programme (CMP) tenders.

At 4 pm, it called for a RM34.30 billion conventional money market tender and a RM21.9 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