KUALA LUMPUR, May 29 — 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 increased to RM46.61 billion from RM42.17 billion this morning, while the liquidity of Islamic funds narrowed to RM20.99 billion from RM26.83 billion previously.

Earlier, the central bank conducted a conventional money market tender, two Qard tenders and two reverse repo tenders.

BNM revised the conventional overnight tender to RM45.6 billion from RM44.7 billion.

At 4 pm, BNM called for a RM45.6 billion conventional money market tender and a RM21.0 billion murabahah money market tender for one-day money.

The Malaysia Islamic Overnight Rate (MYOR-i) stood at 2.96 per cent as of May 26, 2023. — Bernama