SHORT-TERM RATES REMAIN STABLE

KUALA LUMPUR, Feb 5 (Bernama) -- Short-term interbank rates closed stable today as Bank Negara Malaysia actively intervened by issuing several money market tenders to keep rates in check, dealers said. At the 11am fixing, the overnight rate was quoted at 2.0 per cent while the one-week, two-week and three-week rates, hovered around 2.02 per cent and 2.05 per cent. Bank Negara also carried out four conventional tenders, four Al-Wadiah tenders and one repo tender.

As a result, the liquidity surplus in the conventional system declined to RM23.05 billion from the RM32.882 billion estimated this morning while the surplus in the Islamic system eased to RM9.216 billion from an earlier estimate of RM14.008 billion.

In the afternoon, the central bank also called for late tenders to borrow RM23 billion from conventional operations and another RM9.2 billion from Islamic funds, both for three days.-- BERNAMA

NBB AS