USD/KZT at the day closing - 140.00/10 (indicators)

/IRBIS, Nov.02, 99/ - According to REUTERS, at the moment of closing of Kazakhstan's OTC-market on November 02 tenge/dollar quotations has made 140.00/10 tenge per dollar at the average weighted exchange rate of 139.96 (-0.07) and session closing quotations of 140.02/07. By the dealers interbank quotations, tenge as against of the previous day closing increased by 4 points on demand and on supply. The dollar quotations were stable in the interbank market of Kazakhstan the whole day. Level of 140.00 tenge as well as yesterday worked as a "peg" on demand, but some demand prices fell to 139.95. The spreads varied today from 8 to 12 points at average 10, that is unusually low for the last time. Tenge strengthening, which continues for a month, most probable, will be extended. Alongside with other factors, the positive results of negotiations with IMF promote tenge stability. Most likely, the new credit line will be opened in December. Many traders think that forthcoming cancellation of obligatory sale on KASE of the exporters' proceeds can cause not significant raise of the dollar rate. The dealers speak, that if it were not for the National Bank support, the dollar rate could decrease on today's trades to 139.60 tenge per unit. The IRBIS analysts do not deny a such assumption. Changes of the dollar quotations in the interbank market does not allow to make the unequivocal forecast for tomorrow. The level of140 tenge per dollar looks quite real. Especially because, to all appearances, such price is convenient to the National Bank. Therefore, in opinion of IRBIS agency, the minimum changes of a market rate with insignificant tenge strengthening looks for tomorrow most probable.