Short-Term Rates Remain Stable on BNM's Operations
Short-term interbank rates remained stable on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the financial system. The surplus in the conventional system declined to RM23.63 billion from RM28.97 billion this morning, while in the Islamic system, it fell to RM13.03 billion from RM15.54 billion.
On June 10, BNM issued three conventional money market tenders and an Islamic Range Maturity Auction (iRMA) Qard tender as well as a reverse repo tender.
At 4 pm the same day, the central bank conducted an RM23.50 billion conventional money market tender and an RM12.50 billion Murabahah money market tender, both for one-day money.
The average Islamic overnight interest rate stood at 2.96%, while the one-, two- and three-week rates were pegged at 3.03%, 3.07% and 3.12% respectively.