U.S. dollar market of Kazakhstan: day results
/IRBIS, Dec.5, 00/ - Following is the table of major indicators of Kazakhstan market for U.S. dollar (more than 98% of country's all currency market).
----------------------------------------------------------------------------- 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 the trades (AST) 10:15a-11:00a 11:30a-3:30p 2:00p-6:00p 2:00p-6:00p Weighted average rate 144.41 (+0.07) Not shown - - Volume of session (mln) 3.350(+0.950) 0.975(-1.720) 0 0 Bid 144.40 144.45 - - Offer 144.41 144.47 - - Number of participants 21 12 0 0 ----------------------------------------------------------------------------- Indicative U.S. dollar quotations on interbank over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ----------------------------------------------------------------------------- Bid 144.38 144.44 144.44 Offer 144.43 144.48 144.48 -----------------------------------------------------------------------------
Notes: Best bid and offer prices at closing of the trades are shown as the Exchange quotations.
By indicative interbank quotations of the US dollar in REUTERS information system, tenge lost 1 point on bid and remained unchanged on offer of the American currency in comparison with previous day closing.
Today the country's currency market was less dynamic than it was yesterday. As before, the bids of the dollar were still inclined towards the growth both at the Exchange and over-the-counter market. However, around 3:00PM AST the price of the American currency "hung up" around KZT144.45 on demand at the Exchange, while on "interbank" market its maximum demand was registered at KZT144.44.
The movements of the currency market indicators show that the growth rate of the dollar to tenge exchange rate, observed from the mid Friday, has slowed down. Traders, despite a high current liquidity of the banks (the rates of the shortest money at the closing of the market - 0.5/3.75% APR), are reducing their activity in currency circulation sector once again. It is possible that it was due to traditional "stagnation" of the market in the mid of the week because of the Wednesday payments for the GB purchased today and yesterday.
Based on the facts, mentioned above, it should be expected that the trades at the KASE on Wednesday will be held under the minimal activity of the participants and the dynamics of the dollar to tenge exchange rate. Resulting growth of the weighted average price of the dollar should not exceed a few points. However, it is also possible that the market will remain at the levels attained today.