SHORT-TERM RATES CLOSE STABLE ON BANK NEGARA INTERVENTION

16 Jul 2013 07:54

KUALA LUMPUR, July 15 (Bernama) -- Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia (BNM) intervened to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional operations fell to RM17 billion in the conventional system from RM23.057 billion in the morning while in the Islamic system, it declined to RM2.705 billion from RM3.968 billion earlier.

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

BNM also issued a late conventional tender for RM16.8 billion and a RM2.8 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 NHIZ FBP VMD