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Short-term rates close steady on BNM’s intervention

Short-term interbank rates closed steady on February 6, 2018 on Bank Negara Malaysia’s intervention. — File picture by Yusof Mat IsaShort-term interbank rates closed steady on February 6, 2018 on Bank Negara Malaysia’s intervention. — File picture by Yusof Mat IsaKUALA LUMPUR, Feb 6 — Short-term interbank rates closed steady today on Bank Negara Malaysia’s (BNM) intervention to reduce surplus liquidity from the financial system.

The liquidity surplus in the conventional system declined to RM32.33 billion from RM36.11 billion in the morning, while in the Islamic system, it fell to RM11.60 billion from RM15.68 billion.

BNM earlier called for seven tenders comprising three conventional money market tenders, three Islamic range maturity auction Qard tenders and a Commodity Murabahah Programme.

The central bank also conducted a RM31.1 billion conventional money market tender and a RM10.6 billion Qard money market tender, both for one-day money.

BNM revised its conventional overnight tender to RM31.1 billion from RM28.8 billion.

The overnight Islamic reference rate was at 3.19 per cent, while the one-week, two and three-week rates stood at 3.26 per cent, 3.30 per cent and 3.34 per cent respectively. — Bernama

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