Short-term rates close stable

KUALA LUMPUR, May 7 — Short-term rates closed stable today as Bank Negara Malaysia continued to intervene in the money market to absorb excess liquidity. The liquidity surplus in the conventional operations dropped to RM18.987 billion from the RM26.51 billion estimated earlier, while the excess in the Islamic system declined to RM4.085 billion from RM10 billion previously.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/short-term-rates-close-stable3/
Published: May 08, 2013

In the morning, the central bank called for 11 tenders, comprising four conventional, four Al-Wadiah, two repo tenders and one Commodity Murabahah Programme.

Bank Negara also issued a late conventional tender for RM19 billion and a RM4 billion Al-Wadiah tender, both for one-day money.

The overnight rate stood at 2.93 per cent, while the one- two- and three-week rates were pegged at 2.98 per cent, 3.02 per cent and 3.04 per cent respectively.— Bernama