Currency market of Kazakhstan: results of the day

/IRBIS, Feb.4, 00/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on February 4 tenge quotations towards U.S. dollar equaled 139.45/55 tenge per dollar. Compared to the results of the previous day tenge lost 17 points against US dollar on demand and 23 points on supply. The most vivid firming of the dollar was being observed in all sectors of the market till 4:00PM Almaty time today, that is till the closing of the banking day. In last hours dollar quotations were inclined to fall. In main (morning) session weighted average rate of the dollar with TOD terms equaled 139.39 (+0.02) tenge per dollar and closing quotations - 139.41/45. The market participants were active in the day and evening sessions. In the day trades with TOD terms exchange rate equaled 139.45 tenge per unit with volume of the session of $300 th. closing quotations - 139.43/46. At closing (6:00PM) of the evening trades with TOM (actual payments will be made on Monday) terms dollar was at 139.45/53 tenge per unit, but no deals were made. With SPOT (Tuesday payment) terms dollar was quoted at 139.45/54. Volume of deals with SPOT terms reached 1 mln U.S dollars. The day left ambiguous feelings. On the one hand, activity of two banks when purchasing dollars in the morning seemed as if they want to disturb the market and "swing" it, thus changing the trend of firming tenge. On the other hand, noticeable volume of the evening session and its closing quotations indicate that the market conceived the impulse and yielded to it. Thus, it can be inferred that the banks are ready for the growth of the dollar and able to buy it at relatively high prices. Based on these, IRBIS specialists prefer not to make a usual evening forecasts. The market is changing and it needs to be studied carefully.