Short-term rates close stable
Short-term interbank rates closed stable today on Bank Negara's intervention to absorb excess liquidity from the financial system through various instruments.
The liquidity surplus in the conventional system fell to RM16.503 billion from RM24.358 billion estimated in the morning and dwindled to RM4.400 billion from RM4.952 billion estimated earlier in the Islamic system.
The central bank called for a RM16.5 billion conventional money market tender and a RM2.7 billion Al-Wadiah tender, both for one-day money.
The overnight rate stood at 2.92 per cent while the one-, two- and three-week rates stood at 2.97 per cent, 3.01 per cent and 3.04 per cent, respectively.-- Bernama