USD/KZT at closing of the day - 131.90 / 132.00 (indicators)

/IRBIS, Aug.11, 1999/ - According to REUTERS, at closing of over-the- counter foreign exchange market of Kazakhstan on August 13 tenge quotations against US dollar have made 131.90 (demand) / 132.00 (supply) with the weighted average price of 131.89 (+0.29) and the quotes at closing of the market's session of 131.94 / 132.05. Compared to the results of the previous day tenge lost 32 points on demand against US dollar and 36 points on supply. Dynamics of over-the-counter market reflected the change in the currency exchange market and slightly emphasized forming trend. After the trades at KASE the over-the-counter market quotation were above KASE's average weighted rate. Probable, dealers were oriented on the closing rates, which were, in their opinion, more representative. The afternoon over-the-counter market quotation demonstrated stability of tenge and uncertainty of the dealers to judge by twice increased spread (up to 20 points). The poorly expressed tendency of tenge strengthening appeared only at the day ending and spread decreased to 10 points. It is possible, that the interbank market not apprehended the dealers attempt to play on dollar strengthening. According to the IRBIS' analysts opinion, the ambiguity of the situation is explained by the National Bank position, which was announced recently. The Bank do not interested in increase of the dollar rate higher 132 tenge and dealers see an opportunity of the Bank stabilization intervention (at the Monday's and Tuesday's trades). In this context reorientation to the currency market and opening of the long positions today is accompanied by a high risk. The IRBIS agency abstains today from the forecast on Monday. Not so much the market behavior should be predicted today as behavior of the largest participant, having the exclusive rights and opportunities.