Short-term rates close stable on Bank Negara’s operations

The Bank Negara Malaysia logo is seen at its headquarters in Kuala Lumpur January 23, 2020. — Picture by Ahmad Zamzahuri
The Bank Negara Malaysia logo is seen at its headquarters in Kuala Lumpur January 23, 2020. — Picture by Ahmad Zamzahuri

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KUALA LUMPUR, May 7 — Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

Liquidity in the conventional system fell to RM34.63 billion from RM43.09 billion this morning, while in the Islamic system, it eased to RM17.82 billion from RM23.77 billion previously.

Earlier today, BNM called for a money market range maturity auction (RMA) as well as an Islamic range maturity auction (iRMA) Qard tender.

The central bank also announced the availability of reverse repo, sale and buy-back agreement (SBBA), and collateralised commodity Murabahah (CCM) facilities for tenors of one to three months.

At 4pm, BNM called for a RM34.6 billion conventional money market tender and a RM16.6 billion Murabahah money market tender, both for three-day money.

The average Islamic overnight interest rate stood at 1.72 per cent, while the one-, two- and three-week rates stood at 1.78 per cent, 1.81 per cent, and 1.85 per cent, respectively. — Bernama

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