USD/KZT at closing of the day - 139.69/79 (indicators)

/IRBIS, Nov.10, 99/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on November 10 tenge quotations towards US dollar made 139.69/79 tenge per dollar with the Exchange's weighted average price of 139.92 (-0.01) and the quotations at closing of the Exchange's session of 139.89/90. Compared to the results of the previous day tenge lost 27 points on demand against US dollar and 22 points on supply. Decrease in the exchange rate of the dollar, which began at Currency exchange trades and was hardly observed, continued on interbank currency market. This trend was strong immediately after the closing of the trades at KASE. Tenge gained 14 points on demand until 3:00 PM Almaty time. By the evening tenge has reduced its pace. Today spreads varied from 4 to 20 points with an average 10. Small variations of the spreads were observed during two-three hours after closing of the Exchange. By the end of the day spreads have stabilized at 10 points. Rates of interbank "overnight" tenge deposits keep growing gradually and today they reached 8/13 APR. Interestingly, they have not changed since the morning. In IRBIS specialists opinion, some deficit of free funds exists on the market, caused by a two billion decrease of monetary base of the country last week, and by a necessity of transferring money to the emitters for state securities purchased at last three auctions. At the same time, no active fund raising by the banks of the second tier was not observed in repo sector of KASE today. Tenge is obviously apt to gain. Such an explicit trend can be hardly explained. There are rumors on the market that the exchange rate of the dollar will fall down to 135 tenge per unit.