KUALA LUMPUR: Short-term interbank rates remained stable on Bank Negara Malaysia’s (BNM) operations to absorb excess liquidity from the financial system.

The surplus in the conventional system declined to RM21.43 billion from RM30.29 billion this morning while in the Islamic system, it declined to RM8.97 billion from RM12.17 billion, previously.

Earlier, it issued a maturity auction tender, a Commodity Murabahah Programme, a reverse repo tender, three Qard tenders and two Bank Negara Interbank Bills Islamic.

At 4 pm, the central bank conducted a RM21.5 billion conventional money market tender and a RM8.9 billion Murabahah money market tender, both for three-day money.

The average Islamic overnight interest rate stood at 3.19% while the one-, two and three-week rates were pegged at 3.26%, 3.30% and 3.35%, respectively.