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Short-term rates remain steady on BNM’s operations

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

The surplus in the conventional system decreased to RM19.2 billion from RM23.1 billion this morning, while in the Islamic system, it slipped to RM10.8 billion from RM17.27 billion.

Earlier today, BNM issued two conventional money market tenders, a Qard tender and a reverse repo tender.

At 4 pm, the central bank conducted a RM19.2 billion conventional money market tender and a RM10.8 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 2.96 per cent, while the one-week, two- and three-week rates were pegged at 3.03 per cent, 3.07 per cent and 3.12 per cent respectively.

Source: BERNAMA (News Agency)

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