USD/KZT at closing of the day - 138.05/15 (indicators)

/IRBIS, Dec.01, 99/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on December 1 tenge quotations towards US dollar equaled 138.05/15 tenge per dollar. Compared to the results of the previous day tenge lost 5 points on demand against US dollar and remained unchanged on supply. On main (morning) session weighted average rate of the dollar with TOD terms equaled 138.05 (+0.15) tenge per dollar and closing quotations - 138.03/04. Additional day session in USD with TOD terms closed at 137.90/138.35. Evening trades with SPT terms - 137.75/138.50. After a little growth, dollar quotations on interbank market had lowered to levels fixed at closing of the main (morning) session on the Exchange by the end of the day. Spreads mainly varied around ten points, which are quite normal market levels. Rates of interbank "overnight" deposits are at 1.5/6.5 APR. There is no deficit of funds in the market. Strengthening of the dollar, which began this week, is still continuing. Day after day the dealers' desire to reverse the trend upward is getting more vivid. With the beginning of a new month resources of the banks were released, which was quite apparent on today's morning session of KASE: trade volume rose 1.7 times. At the same time, exporters' earnings were not on KASE. dollar quotations with TOM and SPT terms "look" more upward than downward. Objective market indicators show that strengthening of the dollar will continue with high degree of probability on Thursday's trades at KASE. Judging by quotations, dealers are disposed towards this, and the National Bank is not hindering strictly a gradual growth of USD exchange rate.