Short-term rates close stable on BNM’s operations

Short-term rates close stable on BNM’s operations
Short-term rates close stable on BNM’s operations

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Nevin Al Sukari - Sana'a - BNM conducted three conventional money market tenders and one Islamic range maturity auction (iRMA) Qard tender.. — Reuters pic

KUALA LUMPUR, Jan 27 — Short-term interbank rates closed stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

The liquidity in the conventional system decreased to RM36.03 billion from RM39.56 billion this morning, while in the Islamic system, it fell to RM20.27 billion from RM27.07 billion.

Earlier today, BNM conducted three conventional money market tenders and one Islamic range maturity auction (iRMA) Qard tender.

At 4 pm, the central bank called for a RM35.6 billion conventional money market tender and a RM20.3 billion Murabahah money market tender, both for two-day monies.

The average Islamic overnight interest rate stood at 1.73 per cent, while the one-, two- and three-week rates stood at 1.78 per cent, 1.81 per cent and 1.86 per cent, respectively.

The local market will be closed tomorrow in conjunction with the Thaipusam public holiday. — Bernama

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