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 RM17.877 billion from RM21.244 billion estimated in the morning and dwindled to RM3.099 billion from RM6.745 billion estimated earlier in the Islamic system.
The central bank called for a RM17.9 billion conventional money market tender and a RM3.1 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