KUALA LUMPUR, Sept 11 -- Short-term interbank rates closed stable today on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the financial system.

The surplus in the conventional system decreased to RM23.2 billion from RM27.9 billion this morning, while that in the Islamic system narrowed to RM16.9 billion from RM18.6 billion.

Earlier today, BNM issued two conventional money market tenders, a Qard tender and one reverse repo tender.

The central bank revised the Murabahah overnight tender to RM15.9 billion from RM14.1 billion. 

At 4 pm, BNM conducted a RM23.2 billion conventional money market tender and a RM16.9 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 2.95 per cent, while the one-, two- and three-week rates were pegged at 3.03 per cent, 3.07 per cent and 3.12 per cent, respectively.

-- BERNAMA