Short-term rates close stable
Short-term interbank rates closed steady today on Bank Negara Malaysia's (BNM) intervention to reduce excess liquidity in the financial system.
The liquidity surplus in the conventional system fell to RM21.217 billion from the RM23.426 billion estimated in the morning, while in the Islamic system, it dipped to RM2.806 billion from RM5.280 billion.
BNM had earlier called for four conventional tenders, two repo and three Al-Wadiah tenders.
It also called for a RM19 billion conventional money market tender and a RM2.8 billion Al-Wadiah tender, both for one-day money.
The overnight rate stood at 2.92 per cent, while the one-week, two-week and three-week rates stood at 2.97 per cent, 3.02 per cent and 3.04 per cent, respectively.-- Bernama