Short-term rates close stable on Bank Negara’s operations

Earlier today, the central bank called for a conventional money market tender, a Qard tender and reverse repo tender. — Picture by Yusof Mat Isa

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KUALA LUMPUR, May 24 — Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

Liquidity in the conventional system decreased to RM32.93 billion from RM38.74 billion this morning, while in the Islamic system, it fell to RM16.94 billion from RM20.22 billion previously.

Earlier today, the central bank called for a conventional money market tender, a Qard tender and reverse repo tender.

At 4pm, BNM called for a RM32.4 billion conventional money market tender and a RM16.0 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 1.72 per cent, while the one-, two- and three-week rates stood at 1.78 per cent, 1.81 per cent, and 1.85 per cent, respectively. — Bernama

Source: Malay Mail