USD/KZT at closing of the day - 138.15/40 (indicators)

/IRBIS, Nov.17, 99/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on November 17 tenge quotations towards US dollar made 138.15/40 tenge per dollar with the Exchange's weighted average price of 138.72 (-0.40) and the quotations at closing of the Exchange's session of 138.86/87. Compared to the results of the previous day tenge gained 40 points on demand against US dollar and 35 points on supply. After closing of the trades at the Exchange tenge continued to gain. This trend was the most noticeable immediately after the lunch. Then dollar quotations got stabilized, and only the latest demand quotations indicated more strong growth of tenge against an American currency. Today spreads remained within working levels (around 10 points), and have began to raise only by the end of the day. Rates of interbank "overnight" tenge deposits were apt to grow in the first half of the day, and in the second half - to decrease. At closing of the market quotations for the shortest money equaled 2/8 APR. No shortage of tenge is observed on the market, though the banks of the second tier got a little more active in raising funds based on repo sector of KASE. It is possible that the banks were raising money to participate at auctions for placement of notes. In IRBIS analysts opinion, tenge will continue to gain at tomorrow's trades in dollars.