money

Short-term rates close steady on BNM’s intervention

KUALA LUMPUR, Feb 15 — 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 fell to RM29.30 billion from RM37.04 billion this morning, while in the Islamic system, it declined to RM7.73 billion from RM12.88 billion.

Earlier, BNM called for three conventional money market tenders, three Qard tenders and a reverse repo tender.

The central bank also conducted a RM29.3 billion conventional money market tender and a RM7.7 billion Qard money market tender, both for four-day money.

The overnight Islamic reference rate stood at 3.19 per cent, while the one-week, two and three-week rates were pegged at 3.26 per cent, 3.30 per cent and 3.35 per cent respectively. — Bernama

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