SHORT-TERM RATES CLOSE STEADY ON BANK NEGARA'S INTERVENTION

12 Jul 2013 11:19

KUALA LUMPUR, July 11 (Bernama) -- Short-term rates closed steady today on Bank Negara Malaysia's (BNM) intervention in the money market to absorb excess liquidity from the financial system. The liquidity surplus in the conventional operations fell to RM16.28 billion from the RM22 billion estimated earlier, while in the Islamic system, it declined to RM2.26 billion from RM4.04 billion on Wednesday. Earlier, the central bank called for four conventional tenders and two Al-Wadiah tenders. BNM also issued a late conventional tender for RM16 billion and a RM2.2 billion Al-Wadiah tender, both for one-day money. The overnight rate remained at 2.92 per cent, while the one-, two- and three-week rates stood at 2.98 per cent, 3.02 per cent and 3.04 per cent, respectively. -- BERNAMA

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