SHORT-TERM RATES CLOSE STEADY ON BANK NEGARA INTERVENTION

12 Jul 2013 11:19
KUALA LUMPUR, July 4 (Bernama) -- Short-term rates closed steady today as Bank Negara Malaysia (BNM) intervened in the money market to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional operations fell to RM15.499 billion from RM26.357 billion estimated earlier, while in the Islamic system, it declined to RM4.98 billion from RM8.405 billion.

Earlier, the central bank called for four conventional tenders, four Al-Wadiah tenders and a repo tender.

BNM also issued a late conventional tender for RM15.5 billion and a RM4.9 billion Al-Wadiah tender, both for one-day money.

The overnight rate remained unchanged at 2.93 per cent, while the one-, two- and three-week rates stood at 2.98 per cent, 3.01 per cent and 3.04 per cent respectively.

-- BERNAMA FBP FBP WGM