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 RM15.042 billion from RM25.349 billion estimated in the morning while in the Islamic system, it dwindled to RM2.770 billion from RM5.333 billion previously.
The bank had earlier called for three conventional money market tenders, a repo tender, an Al-Wadiah tender and a Commodity Murabahah Programme.
It also called for a RM15 billion conventional money market tender and a RM2.7 billion Al-Wadiah tender, both for three-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, 3.02 per cent and 3.04 per cent, respectively.-- Bernama