KUALA LUMPUR, Sept 7 — Short-term interbank rates closed steady today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

Liquidity in the conventional system rose to RM48.21 billion from RM47.86 billion this morning while for Islamic funds, it fell to RM29.89 billion from RM34.16 billion previously.

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

BNM revised conventional overnight tender to RM47.2 billion from RM46.8 billion.

At 4pm, BNM called for a RM47.2 billion conventional money market tender and a RM29.9 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight rate stood at 1.72 per cent while the one-, two- and three-week rates stood at 1.78 per cent, 1.82 per cent and 1.85 per cent, respectively. — Bernama