SHORT-TERM RATES CLOSE STABLE

KUALA LUMPUR, Nov 19 (Bernama) -- Short-term rates were stable at close today on continued intervention by Bank Negara to mop up excess liquidity in the inter-bank system, dealers said. The overnight, one-week, two-week and three-week rates were at 1.96 per cent, 1.99 per cent, 2.01 per cent and 2.03 per cent respectively.

At close, the liquidity surplus in the conventional system was reduced to RM21.151 billion from the RM24.152 billion estimated earlier while for Islamic funds, it was reduced to RM5.871 billion from an earlier estimate of RM9.445 billion To reduce the surplus, Bank Negara called a late conventional tender of RM21 billion for one day and a Al-Wadiah tender of RM5.8 billion for one day. The underlying Kuala Lumpur Inter-bank Offered Rate was unchanged at 2.17 percent.

-- BERNAMA

STP AS