Short-term rates remain steady on BNM's operations
KUALA LUMPUR (Aug 21): Short-term interbank rates remained steady today on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the financial system.
The surplus in the conventional system declined to RM23.11 billion from RM30.13 billion this morning, while in the Islamic system, it increased to RM16.91 billion from RM13.99 billion.
Earlier today, BNM issued three conventional money market tenders and two Qard tenders.
At 4pm, the central bank conducted an RM23.1 billion conventional money market tender and an RM15.4 billion Murabahah money market tender, both for one-day money.
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.