KUALA LUMPUR, Aug 11 — 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 RM38.10 billion from RM39.15 billion this morning while Islamic funds fell to RM18.29 billion from RM28.58 billion previously.

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

At 4 pm, it called for a RM37.1 billion conventional money market tender and an RM18.3 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