USD/KZT at day closing - 142.20/55 (indicators)

/IRBIS, Oct.04, 99/ - According to REUTERS at the moment of October 04 OTC market of Kazakhstan closing tenge/dollar quotations has made 142.20/55 tenge per dollar at the average weighted exchange rate of 141.59 (+0.49) and session closing quotations of 141.90/142.00. By the dealers interbank quotations, tenge as against of the previous day closing lost 90 points on demand and 123 points on supply. In comparison with the exchange trades closing OTC market quotation have recorded significant strengthening of dollar at the day ending. It is necessary to note, that quotations in the REUTERS system were stopped at 3:25 p.m. Almaty time. There were no any technical malfunctions in the system. As the REUTERS employees informed, the brief interrogation of the dealers shown that there were no active OTC trades after noon. It was connected with today's high volume of exchange trades - the banks of the second tier have purchased necessary dollars and demand in the interbank market was practically absent. Spreads of the interbank quotations varied from 10 to 35 points at average 24 and were quite similar to the Friday's. Rates of the overnight interbank tenge deposits have made at day closing 4% p.a. (demand) and 10% p.a. (supply). The solvency of banks is almost restored - not completely, judge by activity in the repo sector. The real annual short money rates were fixed on KASE at the level of 10.0% for 1 day; 8.6% - for three days. Current tenge devaluation trends are: for a month - 79.4%, for a week - 75.6%, for a day - 42.1% p.a. Despite of significant decrease in the last days they remain very high. Therefore today's cancellation of the 243rd MEKKAM-3 issue looks reasonable. On Tuesday's trades the dollar most likely will continue to grow on a background of increase of short-term banks' liquidity. However IRBIS analysts are inclined to think that the price of dollar can not grow too fast, considering the National Bank forecast of dollar rate dynamics till the end of the present year.