Record high amount of deals with foreign currencies at KASE in August (statistical review)

06.09.99 00:00
/IRBIS, Sep.06, 99/ - In August 1999 4,097 deals were made with foreign currencies at Kazakhstan Stock Exchange (KASE), including: with US dollars - 3,992, with Deutsche mark - 73, and with Euro - 32. Total volume of trades made 32,309.0 mln tenge or equivalent of 245,124.9 thousand US dollars. With US dollars trade volume reached $243 mln 800 thousand (32,134.4 mln tenge) with the average session volume of $61 mln 072 thousand. Corresponding figures for previous month: $202 mln 145 thousand (26,774.4 mln tenge), $9 mln 188 thousand. Corresponding figures for August of 1998: $84 mln 995 thousand (6,666.5 mln tenge), $4,047.4 thousand. Such a high divergence from last year, as before, is due to mandatory sale of 50% of exporters' earnings. Since the introduction of tenge trade volume reached in August of 1999 is the highest not only for August itself, but it is also the highest for monthly turnover of foreign currency in exchange market. On one hand, it is explained by high saturation of the market with both US dollar and tenge. Currency market is active and liquid, which is all dealers agree on. Tenge devaluation rate, calculated at Exchange's weighted average rate against dollar, is assessed by trend of 3.07% APR (July.30, 99 = 131.9078 - August.31, 99 = 132.2635) in August 1999. For previous month this figure was equal to negative 3.57% APR (tenge revalued). Weighted average US dollar exchange rate against tenge, calculated for all August deals - 131.81 tenge per unit of the currency. For July - 132.45 tenge per dollar. From the beginning of 1999 through August 31, 99 corresponding figure made 118.72 tenge per dollar and rose 115.63 within a month. Trades were also held with Deutsche mark and Euro in previous month. With Deutsche mark trade volume made 1,640 thousand marks (117.4 mln tenge). 19 sessions out of 21 held were successful. Corresponding figures for last month: 875 thousand (61.2 mln tenge), 20 out of 22 sessions held. Tenge revaluation rate against mark, calculated at Exchange's weighted average rate, is assessed by a trend of negative 20.8% APR (July.30, 99 = 72.4000 - August.31, 99 = 71.0750) in August 1999 (tenge revalued against mark). For previous month corresponding figure was equal to positive 36.2% APR. Weighted average Deutsche mark exchange rate against tenge, calculated for all August deals - 71.61 tenge per mark. For July - 69.96. From the beginning of 1999 through August 31, 99 corresponding figure made 69.71, for the end of last month - 68.79 tenge per mark. Volume of deals with Euro reached 410 thousand currency units (57.2 mln tenge). 15 sessions out of 21 held were successful. Corresponding figures for previous month: 665 thousand (90.7 mln tenge), 11 out of 22 sessions. Euro is getting more liquid, which is mainly due to mandatory sale of 50% of exporters' earnings at the Exchange. Tenge revaluation rate against Euro, calculated at Exchange's weighted average rate, is assessed by a trend of negative 7.9% APR (July.30, 99 = 140.3000 - August.31, 99 = 139.3250) in August 1999 (tenge revalued against mark). For previous month corresponding figure was equal to positive 30.0% APR. Weighted average Euro exchange rate against tenge, calculated for all August deals - 139.44 tenge per Euro. For July - 136.44. From the beginning of 1999 through August 31, 99 corresponding figure made 133.94 tenge per Euro, for the end of last month - 132.32 tenge per Euro.