USD/KZT at closing of the day - 138.13/19 (indicators)

/IRBIS, Dec.21, 99/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on December 21 tenge quotations towards US dollar equaled 138.13/19 tenge per dollar. Compared to the results of the previous day tenge lost 23 points against US dollar on demand and 20 points on supply. In main (morning) session weighted average rate of the dollar with TOD terms equaled 138.12 (+0.13) tenge per dollar and closing quotations - 138.10/12. At closing of additional day session with TOD terms and the evening trades with TOM and SPT terms dollar was not quoted. Today dollar quotations in interbank market resumed yesterday's firming trend, but this growth was not so explicit. Close to 4:00PM of Almaty time the growth stopped, and quotations fell almost as low as closing parameters of the Exchange trades. However, price of the dollar resumed its growth before the closing of the market. Spreads did not exceed 5-6 points today, and were the lowest for recent times. Deficit in tenge of the banks of the second tier is absent. At closing of the market the shortest money was offered at 3% APR, demand did not existed. No deals were made in repo sector of KASE today. Analyzing the results of the day IRBIS analysts made a conclusion that some firming of the dollar against the tenge is quite possible on tomorrow's trades at the Exchange and it will more likely to happen. However, probability of some firming of the tenge also exists. Demand of the banks of the second tier and their clients for the dollar is not great. Exchange rate fluctuations are mainly caused by speculative games of the banks using "Exchange - interbank" arbitrage. The market is still balanced and any vivid trends in the exchange rate changes are hardly possible.