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Market and Company News
09.03.2000 00:00

U.S. dollar market of Kazakhstan: day results

/IRBIS, March 9, 00/ - Following is the table of major indicators of Kazakhstani market for U.S. dollar (more than 98% of country's all currency market).

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US dollar trades at the Kazakhstan stock exchange (KASE)
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Toll                           USD TOM       USD TOM     USD TOM    USD SPOT
Session                           Main   Additional.     Evening     Evening 
Time of trades (ALM)       10:15-11:00   11:30-15:30 14:00-18:00 14:00-18:00
Average weighted rate    141.25(+0.14) Not indicated           -      141.31
Volume of session (mln)  6.340(+2.510)         0.850           0       0.500
Demand price                    141.24        141.21      141.24      141.27
Supply price                    141.25        141.26      141.32      141.32
Number of participants              17             6           5           5
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Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates)

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Demand price                    141.24         141.21                 141.22
Supply price                    141.28         141.25                 141.27
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Notes: Best bid and ask prices at closing of the trades are shown as the Exchange quotations.

By indicative interbank quotations of the dollar in REUTERS information system, tenge lost 14 points in comparison with previous day closing on both demand and on supply of the American currency.

As on previous days, dynamics of the dollar quotations were minimal on currency market of the country. In the second half of the day traders were in their highest point in quoting the American currency on additional (day) session of KASE. Though, it did not cause the exchange rate of the dollar to grow higher than that attained at the Exchange in the morning.

At the same time, an explicit game towards firming the dollar on SPOT terms, that was supported by the buyers, draws the attention (see the table).

Such disposition is mainly explained by the events taking place on primary market for SS today. Offering of notes-63 and MEKAVM-12 - quite interesting papers in current situation - drained out KZT2,133.7 mln from the market. Therefore, it would be wrong to presume a high demand for USD tomorrow. Purchasing power of the banks will be restored only on Monday or Tuesday. And supply of dollars from the BST, as the results of the day showed, exists. Hence, more flexibility of the market towards the growth "at SPOT", rather than with shorter payment terms.

Taking into account these, both a slight firming and weakening of the dollar towards tenge can be expected on Friday. In any case, upward trend of the American currency on the market will be restored at the beginning of the next week, and the exchange rate of the tenge will continue to fall gradually.