U.S. dollar market of Kazakhstan: day results

/IRBIS, September 17, 02/ - Following is the table of major indicators of Kazakhstan market for U.S. dollar (more than 99% of country's all currency market). Trends are shown relative to corresponding figures of previous day. ----------------------------------------------------------------------------- Trades in U.S. dollars at Kazakhstan stock exchange (KASE) ----------------------------------------------------------------------------- Instrument USD TOD USD TOD USD TOM USD SPOT Session Main Additional. Evening Evening Time of trades (AST) 10:15a-11:00a 11:30a-3:30p 2:00p-6:00p 2:00p-6:00p Rate (KZT/USD) 154.45(-0.03) 154.45(-0.03) - - Volume of session (m) 154.44(-0.01) 154.48(-0.01) 154.44( -) 0 Bid 15.035(+2.980) 0.200(-1.640) 1.200( -) - Offer 154.44( 0) 154.43(-0.04) 154.43( -) - Number of participants 154.45( 0) 154.46(-0.03) 154.46( -) 0 ---------------------- -------------- ------------- ----------- ------------- Indicative U.S. dollar quotations in over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ----------------------------------------------------------------------------- Bid 154.40(-0.02) 154.43(-0.01) 154.41(-0.02) Offer 154.45(-0.02) 154.48(-0.01) 154.43(-0.05) ----------------------------------------------------------------------------- Notes: weighted average rate is given for main and evening sessions, for additional - closing rate; best ask and offer prices at closing of the trades are shown as the Exchange's quotations. Nothing principally new occurred at US dollar market of Kazakhstan. Very high USD offer volume in the morning session caused decrease of the stock exchange's USD rate below official level that happens rather seldom. It is obvious that precisely this circumstance made traders liven up in purchasing. However demand was not enough to raise dollar rate. It seemed that the morning session of KASE was conducted precisely in this way. But during this trade the only one deals was made, and at the trades on TOM terms high-volume USD offer decreased its rate again to the level of the morning session. Results of the day show that dollar is still weak. An interesting peculiarity of the market is falling at KASE of the price of the shortest money. Indicator TONIA decreased today to 3.23% APR - the lowest level for the last three months. The National Bank did not prevent decrease of "overnight" rate that may be considered as an invitation for traders to play up at the money market using very cheap short money. However, having significant volume of USD offer such direction of the dollar market can hardly appear. Most probably tenge will remain stable up to the middle of the third ten-day period of the current month. Taking into account parameters of the day closing (table) IRBIS analysts expect on Wednesday the minimal dynamics of dollar rate - about one or two points. [2002-09-17]