THE POLL - dollar rate in Kazakhstan in June 2008 can appreciate

/REUTERS, Almaty, Tatyana Seroshtanova, June 2, 08/ - Kazakhstan stock market in June will retain stability, which is observed since year beginning, however the part of players don't exclude dollar appreciation, which maximum level can reach 10.90 - 120.30 tenge per $1. "We think that in June the market won't change. The range will be nearly the same, may be a little bit higher - KZT120.40-120.90 per $1, but won't exceed this value", - the dealer of Kazkommertsbank told. "We haven't changed our forecast and still look upward. It is very unprofitable for our oilers to decrease dollar rate, that's why I think it will grow. We don't exclude that the market will test KZT121 per $1 level in June" - representative of Alliance Bank said. According to dealers, fluctuations in USD/KZT are still in the narrow range. According to Kazakhstan Stock Exchange's data, weighted average rate of Kazakhstan tenge on May 30 made KZT120.57 per $1, compare to KZT11120.36 on April 30. In trader's opinion, the situation on stock market will be depending on policy of the main operator of the market - National Bank. Dealers don't forecast serious fluctuations and don't expect activity from nonresidents on local market. Nonresidents` participation is few now. We don't expect sharp increasing of foreigners on our market, as the range of fluctuation is very restricted and there are few variants to earn money on dollar-tenge market" - the dealer of Kazkommertsbank told. AVERAGE RATE OF TENGE TO DOLLAR PROGNOSIS FOR JUNE ----------------------------- Kazkommertsbank 120.40-120.90 Alliance Bank 120.50-121.30 Nurbank 120.35-120.80 Halyk-bank 120.55-120.85 ABN AMRO 120.30-121.30 BTA 120.20-120.80 ----------------------------- Below are given the opinions of dealers, participated in the poll: NURBANK "There are no significant fluctuations in June. We are likely to remain in the same range 120.35 - 120.80 tenge per $1.The market will be calm. At first, it is summer, secondly - players` spirit is this way. We should expect changes only in autumn. ABN AMRO "The market is stable. 120.30 - 121.30. Everything will be depending on policy of the main market operator". ALLIANCE BANK "There is a tendency to dollar growth. Everything will be depending on the market liquidity from the point of view of nonresident. Now nonresidents are utterly not active". BTA-BANK "Dollar will fluctuate in June within KZT120.20 - 120.80 per $1 range". HALYK BANK "Actually during five months the market is stable and traded within nearly the same limits. I think that the market in June will be as that of the previous months. We won't observe strong fluctuations. I suggest that the market should be on the level of KZT120.55 - 120.85 per $1". [2008-05-02]