KUALA LUMPUR, Sept 15 — 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 dropped to RM41.71 billion from RM51.51 billion this morning, while for Islamic funds, it fell to RM29.01 billion from RM32.56 billion previously.

Earlier today, the central bank called for four conventional money market tenders, one Commodity Murabahah Programme tender and three Qard tenders.

At 4 pm, BNM called for a RM41.70 billion conventional money market tender and a RM28.0 billion Murabahah money market tender, both for four-day money.

It had also revised the Murabahah overnight tender to RM28.0 billion from RM27.9 billion.

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