Short-Term Rates End Stable On BNM's Intervention

KUALA LUMPUR, Sept 9 (Bernama) -- Short-term interbank rates closed stable Friday on Bank Negara Malaysia's (BNM) (Central Bank of Malaysia) intervention to absorb excess liquidity from the financial system. The liquidity surplus in the conventional system eased to US$4.18 billion (RM17.68 billion) from RM20.6 billion earlier, while in the Islamic system, it fell to RM6.19 billion from RM10.49 billion previously. Earlier, BNM conducted a conventional money market tender, a Commodity Murabahah Programme and a Qard tender. The central bank also conducted a RM17.7 billion conventional money market tender and a RM5.9 billion Qard money market tender, both for four-day money. The overnight Islamic reference rate stood at 2.95 per cent, while the one-, two- and three-week rates stood at 3.01 per cent, 3.06 per cent and 3.10 per cent, respectively. (US$1 = RM4.06) -- BERNAMA