Currency market of Kazakhstan: results of the day

/IRBIS, Feb.8, 00/ - According to REUTERS, at closing of interbank currency market of Kazakhstan on February 8 tenge quotations towards U.S. dollar equaled 139.72/76 tenge per dollar. Based on quotations, tenge lost 14 points against U.S. dollar on demand and 10 points on supply. In main (morning) session weighted average rate of the dollar with TOD terms equaled 139.68 (+0.10) tenge per dollar and closing quotations - 139.68/69. At closing (3:30PM) of the day session dollar quotations with TOD terms equaled 139.70/73 tenge per unit. With TOM terms dollar was quoted in the evening session of KASE at about 5:30PM at 139.74/78 tenge per unit. Volume of seven deals equaled 600 th. U.S. dollars at weighted average resulting rate of 139.74 tenge per unit. Deals were not made with SPOT terms. Participants refrained themselves with quotations 139.73/140.00 at 5:30PM. By the results of the day the market seems to be active and liquid. Dealers were putting out USD quotations throughout the day both at the Exchange and out of it. Dynamics of the quotations were certainly indicated further growth of the dollar during the day and for the next two days ahead. Restrained dynamics of the quotations on USD interbank market - usually the most liquid segment in the second half of the day - draws the attention. The price of the dollar remained a little above the maximum level of the Exchange. Spreads varied around 4 points. A significant growth has been observed during the first couple of hours after closing of the main KASE session. It seems as if the banks were trying to sell the currency they bought at KASE in the morning on the interbank market at maximum attainable prices. But the market was moving upward without enthusiasm, and by the end of the day the exchange rate of the dollar decreased a little bit. In general, the market conjuncture did not differ much from that on Monday. The market is inclined to further growth of USD very slowly, since there is not deficit of supply. Therefore, it can be assumed on Wednesday the growth of the dollar will continue at KASE. However, the growth rate will be about the same level attained on Monday.