Short-term rates remain stable on Bank Negara intervention

    (Updated )

    Short-term interbank rates remained stable on Bank Negara's operations to absorb surplus liquidity from the financial system.

    The surplus in the conventional system was reduced to RM22.43 billion from RM29.37 billion this morning, while in the Islamic system, it eased to RM12.7 billion from RM13.51 billion.

    Earlier, Bank Negara issued a one range maturity auction money market tender, one Qard-Islamic Range Maturity (iRMA) tender and one reverse repo tender.

    At 4pm, the central bank conducted a RM22.4 billion conventional money market tender and an RM11.7 billion Murabahah money market tender, both for one-day money.

    Bank Negara also revised the conventional overnight tender to RM11.7 billion from RM8.5 billion.

    The average Islamic overnight interest rate stood at 2.96 percent while the one-, two- and three-week rates were pegged at 3.03 percent, 3.07 percent and 3.12 percent, respectively.

    - Bernama

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