Teneg deficit pressures banks to sell dollars
/IRBIS, Andrey Tsalyuk, September 16, 04/ - Today the next morning trades in U.S. dollar were held at Kazakhstan Stock Exchange (KASE) on TOD payment terms. Below are main parameters of the trade and comparison with corresponding indicators of previous morning session (TOM terms).
Table of trade results (tenge per dollar, th. dollars)
-------------------------------------------------------------------- Indicator Value Trend ---------------------------------------------------- ------ ------ Rate of the first deal 135.10 -0.60 Maximum rate 135.50 -0.20 Volume at maximum price 5 0 Minimum rate 135.10 +0.05 Volume at minimum price 5 0 Rate of the last deal 135.36 -0.14 ---------------------------------------------------- ------ ------ Weighted average rate 135.32 -0.19 Volume of the session 8 265 -4 430 ---------------------------------------------------- ------ ------ Number of deals 89 -48 Number of participants 19 +3 Volume of unsatisfactory offer* 1 435 +235 Volume of unsatisfactory demand* 4 605 +2 645 Best demand at KASE at closing 135.34 -0.16 Best offer at KASE at closing 135.36 -0.15 ---------------------------------------------------- ------ ------ Best demand at 11:00 out of stock exchange (REUTERS) 135.34 -0.11 Best offer at 11:00 at stock exchange (REUTERS) 135.44 -0.11 -------------------------------------------------------------------- *volume of corresponding active bids of STB in the trade system at closing of the trade
Table of trade price levels
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Time (ALT)
Price Volume, Number ------------
Level th. USD of deals from To
------ ------- -------- ----- -----
135.50 5 1 10:17 10:17
135.49 5 1 10:17 10:17
135.40 5 1 10:15 10:15
135.36 1065 8 10:52 10:59
135.35 1340 19 10:32 10:56
135.34 500 5 10:32 10:37
135.33 1375 7 10:30 10:46
135.32 260 3 10:38 10:46
135.31 350 5 10:39 10:45
135.30 1865 16 10:15 10:43
135.29 105 3 10:20 10:41
135.28 155 3 10:21 10:29
135.27 300 3 10:21 10:27
135.26 210 5 10:21 10:23
135.25 70 2 10:23 10:25
135.23 650 6 10:24 10:25
135.10 5 1 10:15 10:15
------ ------- -------- ----- -----
TOTAL 8265 89 10:15 10:59
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The auction was similar to previous day trades. As yesterday, market opened low, although traders managed to raise rate. Nevertheless, closing Wednesday parameters were not reached resulting in negative change of dollar rate.
The main peculiarity of the session is disposition of traders. There were 9 banks operating as sellers, while buyer were represented by 5 banks. Such structure allows to state growing tenge strengthening potential. Today, even significant slump in supply did not allow traders to stop dollar falling. Dynamics of overnight repo rates displays deficit of tenge. This factor provides dollar buyers to show their uncompromising positions despite relatively high demand. Clearly, need in tenge exceeds need in dollar because of budget payment.
IRBIS assumes that tenge is able to gain some more points today.
One hour after closing of the morning session out of stock exchange dollar was quoted at KZT135.32/37. At the day session of KASE at 12:00 p.m. dollar was quoted at 135.24/27, the last deal was made at 135.25.
[2004-09-16]