U.S. dollar market of Kazakhstan: day results

/IRBIS, Vitaliy Tomskiy, July 1 08/ - Following is the table of major indicators of Kazakhstan market of U.S. dollar, on day results. The rate is given in tenge per dollar, volume - th. USD. Trends are shown relative to corresponding figures of previous trading day. Results of trades on Kazakhstan stock exchange (KASE) ------------------------------------------------------------------------------ Instrument USD TOD USD TOD USD TOM KASE's session Morning Day Evening Time 10:15-11:00 ALT 11:30-15:30 ALT 14:00-17:00 ALT ----------------- ----------------- ---------------- Indicator value trend value trend value trend ---------------------- ------- -------- ------- -------- ------- ------- Opening rate 120.65 -0.12 120.65 -0.12 120.65 -0.11 ---------------------- ------- -------- ------- -------- ------- ------- Maximum rate 120.67 -0.11 120.66 -0.11 120.68 -0.08 Volume on max. price 3,625 +2,775 1,950 +250 5,500 +5,000 ---------------------- ------- -------- ------- -------- ------- ------- Minimum rate 120.64 -0.11 120.61 -0.12 120.60 -0.12 Volume on min. price 14,000 -130,500 605 -19,795 1,000 -49,500 ---------------------- ------- -------- ------- -------- ------- ------- Closing rate 120.66 -0.12 120.61 -0.14 120.62 -0.12 Weight. aver. rate 120.65 -0.10 120.65 -0.09 120.65 -0.08 Session volume (gross) 427,590 +264,840 144,465 +20,765 181,500 +69,000 Session net-turnover 300,120 +261,020 112,265 +56,365 88,500 +6,000 Number of deals 287 +210 335 +278 42 +32 Number of participants 20 -1 20 +1 12 +5 ---------------------- ------- -------- ------- -------- ------- ------- Day gross-turnover* 572,055 +285,605 181,500 +69,000 Day net-turnover* 321,945 +243,145 181,500 +6,000 ---------------------- ------- -------- ------- -------- ------- ------- Best bid** 120.66 -0.10 120.60 -0.13 120.61 -0.11 Best ask** 120.67 -0.11 120.61 -0.14 120.62 -0.12 ---------------------- ------- -------- ------- -------- ------- ------- REUTERS Bid** 120.65 -0.08 120.64 -0.08 120.59 -0.11 REUTERS Ask** 120.67 -0.09 120.65 -0.10 120.64 -0.10 ------------------------------------------------------------------------------ * resulting net-position on each instrument **at closing of the session on KASE, out of stock exchange - by the data of REUTERS Table of price levels of trade in US dollar on KASE on TOD terms ------------------------------------------------------------------- TOTAL BY RESULTS OF DAY: Morning Day ---------------------------- session: session: time (ALT): Price -------------- -------------- ------------ level volume deals volume deals volume deals from to ------ ------- ----- ------- ----- ------- ----- ----- ----- 120.67 3,625 8 0 0 3,625 8 10:36 10:41 120.66 3,065 203 1,950 6 5,015 209 10:41 15:05 120.65 406,900 71 136,025 240 542,925 311 10:15 15:16 120.64 14,000 5 2,600 36 16,600 41 10:15 15:19 120.63 0 0 1,100 2 1,100 2 15:19 15:19 120.62 0 0 2,185 4 2,185 4 15:19 15:26 120.61 0 0 605 47 605 47 15:25 15:30 ------ ------- ----- ------- ----- ------- ----- ----- ----- T 427,590 287 144,465 335 572,055 622 10:15 15:30 ------------------------------------------------------------------- Parameters of unsatisfied demand and supply of second tier banks in KASE' trade system for the last 5 days (total of valid bids by the time of morning and day trades closing, th. USD) -------------------------------------------------------------------------- Indicator June 25, 08 June 26, 08 June 27, 08 June 30, 08 July 1, 08 ---------- ----------- ----------- ----------- ----------- ---------- Ask 81,580 34,850 25,050 13,450 33,645 Bid 102,100 30,985 26,700 63,900 60,700 ---------- ----------- ----------- ----------- ----------- ---------- Difference +20,520 -3,865 +1,650 +50,450 +27,055 -------------------------------------------------------------------------- Downward dynamic of USD/KZT rate continued on a day session. Trade range insignificantly expanded downward. The market was under pressure of monopolizing bid. It is worth to note that last decade of June characterized by remarkable revival of evening session, on which trades are executed with USD_TOM and USD_SPT instruments. It is likely to be explained by activation of non residents on internal market, ask of which was likely to form internal market of US dollar during last days of previous month. At the same time, we consider that the main contribution to growth of ask on American currency is connected with maturity of foreign debt by second level banks. In June and in the whole as of first half of 2008 more than half of all payments came to the stake of separate banks, according to the schedule. Under the conditions of sharply decreased borrowings and assets crisis, some banks are likely to have difficulties with dollar liquidity, what contributed to upward tendency of USD rate, which was forecast since beginning of May. Not by chance National Bank decided to decrease minimal reserve requirements by 1% last week both on foreign and domestic debt of SLB for supporting commercial banks` liquidity. The positive balance of current operations account (see comment dated 30.06.08) supported tenge, though decreasing of which is possible during next quarters after restoration of import growth. [2008-07-01]