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06.10.2006 17:59

Dollar will continue fluent strengthening to Kazakh tenge - dealers

/REUTERS, Almaty, Tatyana Seroshtanova, October 6, 06/ - Dollar will keep the current rates of growth on the future before-tax week in limits of 30 tiyin (kopecks) and can reach 127.80 on Kazakhstan currency market, dealers say.

"Banks have mood on purchase (of dollar), mood for selling flounders, so there is a big probability that dollar will rise on the future week. The range of fluctuations will be in the corridor 127.40-127.80 tenge per $1", - told the dealer of Alfa-bank.

By the words of market participants, the main operator of the local currency market - National bank - is preserving the presence on the market, but mostly as observer.

"On the exchange the volumes are big. In principle, the market is liquid enough, with good volumes from the side of clients as for selling, as for buying of dollars. Mainly, deals are passing without strong influence of National bank on the current levels about during last two weeks", - told the dealer of bank TuranAlem.

The average weighted rate of tenge on th Kazakhstan stock exchange (KASE) decreased on Friday to 127.49 per $1 from 127.44 the day before. The volume of trades decreased to $225.68 millions from $270.00 millions on Thursday.

"The fluctuations of dollar on the future week will be in limits of 127 tenge plus/minus 30 tiyin", - added the dealer of bank TuranAlem.

Dealers note the increased at the last time demand for American currency.

"There is the demand for dollar, but how much does it exceed the supply, it is hard to understand", - told the dealer of Alfa-bank.

By the opinion of some dealers market as earlier is controlling by the main big player - central bank, from policy of which will depend the further development of events.

[2006-10-06]