KUALA LUMPUR, Sept 20 — 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 shrank to RM34.52 billion from RM38.60 billion this morning, while Islamic funds’ liquidity fell to RM26.02 billion from RM29.28 billion previously.

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

At 4pm, BNM called for a RM34.50 billion conventional money market tender and a RM25.0 billion Murabahah money market tender, both for one-day money.

It had also revised the Murabahah overnight tender from RM24.2 billion to RM25.0 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