USD/KZT at closing of the day - 132.17 / 132.27 (indicators)

/IRBIS, Aug.18, 99/ - According to REUTERS, at closing of over-the-counter foreign exchange market of Kazakhstan on August 16 tenge quotations towards US dollar have made 132.17 (demand) / 132.27 (supply) tenge per dollar with the weighted average Exchange's price of 132.15 (+0.10) and the quotes at closing of the Exchange's session of 132.14 / 132.16. Based on dealers' quotations, tenge lost on demand against American currency 17 points, and 20 points on supply compared to previous day. After the trades at KASE over-the-counter market showed significant strengthening of the dollar against tenge. At the end of the day demand price was above the weighted average 2 points, supply price was above by 12 points. This is the first time in last few months when dollar quotations were exceeding the weighted average exchange rate for quite a long time (about one hour) on demand and the price of the Exchange's last transaction as well. Spreads throughout the second half of the day on the over-the-counter market varied from 5 to 15 points, 7 points on average. It indicates that the dealers are sure of the trends. Baltic banks, which usually specialize in working with tenge, were putting out unreal quotations exceeding the price for the dollar offered by local banks. Therefore, large variances of spreads is due to quotations of these dealers. Quotations for interbank "overnight" tenge deposits do not change and show sufficient free money in the market. Analysts at IRBIS stress that all the indicators show trades at KASE on Thursday will open higher than the weighted average exchange rate on Wednesday, and the banks of the second tier will try to play bullish to boost the rate of US dollar.