Short-term interbank rates closed stable today on Bank Negara Malaysia's (BNM) intervention to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional system fell to RM26.71 billion from RM38.3 billion, while in the Islamic system it declined to RM8.0 billion from RM12.77 billion.

The central bank conducted a RM26.7 billion conventional money market tender and a RM7.7 billion Qard money market tender, both for one-day money.

Earlier, BNM conducted a range maturity auction money market tender, Islamic range maturity auction Qard tender and a Commodity Murabahah Programme tender.

The overnight Islamic reference rate stood at 2.95 percent, while the one-, two- and three-week rates stood at 3.02 percent, 3.06 percent and 3.11 percent, respectively.

- Bernama