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SHORT-TERM RATES TO REMAIN STEADY

Bernama - Tuesday, June 30

KUALA LUMPUR, June 30 (Bernama) -- Short-term rates are expected to remain steady today as Bank Negara Malaysia (BNM) continued to intervene to offset the liquidity surplus in the financial system, dealers said.

The cental bank estimated today's closing balance surplus of RM31.042 billion in the conventional system and RM14.725 billion in the Islamic system.

BNM would call for five conventional money market tenders, comprising RM3 billion each for 8-day, two weeks, three weeks and 30-day monies respectively and RM1.5 billion for 45-day.

To further reduce the surplus, it also offered four Al-Wadiah tenders of RM500 million each for one-week, two-week and 28-day monies respectively and RM2.0 billion for three-week money.

Bank Negara would also conducted one repo tender of RM500 million for 30-day money.

Yesterday, the overnight rate stood at 1.91 percent while the one-week, two-week and three-week rates moved between 1.94 percent and 1.98 percent.

-- BERNAMA

SRH MR

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