USD/KZT at closing of the day - 139.55/65 (indicators)

/IRBIS, Jan.18, 00/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on January 18 tenge quotations towards US dollar equaled 139.55/65 tenge per dollar. Compared to the results of the previous day tenge gained 5 points against US dollar on demand and lost 1 point on supply. In main (morning) session weighted average rate of the dollar with TOD terms equaled 139.56 (-0.04) tenge per dollar and closing quotations - 139.54/59. At closing of additional day session with TOD terms dollar was quoted at 139.56/61 tenge per dollar. On the evening trades with TOM and SPT terms dollar quotations were absent. Today dynamics of the dollar quotations in interbank market in the afternoon was quiet and did not show any vivid tendencies. Till the very end of the day tenge remained stable. Price of the dollar varied a little around the weighted average of KASE trades. Spreads did not exceed 10 points, sometimes going down as low as 3 points. As expected, activity of the currency market participants is decreasing. Taking into account corrections of the monetary base and the mass made by the National Bank and the Ministry of finance in December, the market is close to its equilibrium and saturated with foreign currency. Demand for the dollars is weakening and today it was totally balanced by supply. It seems as if consequences of the payments made to retirees and to employees of budgetary organizations were eliminated, demand accumulated over the holidays is satisfied. The market is entering in its new phase, when corporate clients of the banks begin to make tax payments to the budget by the year- end results. In IRBIS specialists' opinion, this is going to the determinant of the USD market conjuncture in coming week. After an analysis of the current situation some "subsidence" of the dollar exchange rate with minimum of price change may happen at KASE on Wednesday.