USD/KZT at closing of the day - 138.09/17 (indicators)

/IRBIS, Dec.28, 99/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on December 28 tenge quotations towards US dollar equaled 138.09/17 tenge per dollar. Compared to the results of the previous day tenge lost 7 points against US dollar on demand and 8 points on supply. In main (morning) session weighted average rate of the dollar with TOD terms equaled 138.12 (+0.09) tenge per dollar and closing quotations - 138.11/12. At closing of additional day session with TOD terms and the evening trades with TOM and SPT terms dollar was not quoted. Dynamics of the dollar quotations in interbank market did not show any explicit trends during a few hours after closing of the Exchange trades. Some growth in the price of an American currency was observed only by the end of the day, which was obvious on the supply side. Spreads varied in a wide range, sometimes going up to 15 points and down as low as 1 point. In IRBIS specialists' opinion, the conjuncture of the last trades in 1999, which will be held on Wednesday, can be affected by coming holidays and inability of settling accounts till January 5. Probably, tomorrow banks will try to buy dollars more than they usually do. This can bring about growth in demand for an American currency, and its subsequent firming. At the same time no significant dynamics of the exchange rate should be expected. Even if the demand becomes great and supply of the banks of the second tier are weak, the National Bank will be able to "correct" the situation without much effort by additional sales, reaching the minimum trend. The most likely change in the dollar exchange rate that might occur, in IRBIS specialists' opinion, is the growth within usual ranges of last days, and as a result, weighted average rate of the Exchange will match the official rate.