U.S. dollar market of Kazakhstan: day results

/IRBIS, March 15, 00/ - Following is the table of major indicators of Kazakhstani market for U.S. dollar (more than 98% of the whole currency market). ---------------------------------------------------------------------------- US dollar trades at the Kazakhstan stock exchange (KASE) ----------------------- ------------- ------------- ----------- ----------- 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 141.38(+0.04) Not indicated - - Volume of session (mln) 2.670(-1.770) 0.700 0 0 Demand price 141.41 141.33 141.30 141.32 Supply price 141.43 141.36 - - Number of participants 16 7 4 4 ----------------------- ------------- ------------- ----------- ----------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) ----------------------- ------------- -------------- ---------- ----------- Demand price 141.37 141.31 141.40 Supply price 141.43 141.36 141.48 ---------------------------------------------------------------------------- Notes: Best bid and ask prices at closing of the trades are shown as the Exchange quotations. By the indicative interbank quotations of the dollar in REUTERS information system, tenge in comparison with previous day closing lost 7 point on demand and 9 point on supply of the American currency. The day on the US dollar market can be characterized as critical. Till 4:00PM Almaty time the tendencies of the two last days prevailed in the market. Under the influence of the free tenges deficiency, the national currency remained stable or somewhat increased. The minimum dollar rate growth on the KASE main session was stipulated manly by the small dollars offer. On the day session neither dollar quotations, nor the transactions prices did not reach the level of the main session' prices. The indicative tenge quotations in the off-exchange market also fixed tenge stability. After 4:00PM the situation was changed. Most likely, it was caused by the new sums of tenge on the banks' correspondent accounts. Within the last two hours in the interbank market they increased sharply. There was only dollar demand on the evening session with the TOM and SPOT accounts, most likely, due to the traders' uncertainty concerning the new dollar price. The shortest money quotations by the evening have decreased from 9/14 to 6/11% p.a. The activity in the repo sector has decreased. Thus, the IRBIS experts incline to expect on Thursday active dealing for a dollar rise that can cause acceleration of the dollar increase. It is necessary to take into account that today the National bank has increased the official dollar rate. It means that the dollar rate growth within this week will be not very high. The banks' free means will be neutralized by the Friday's notes auction and, at a lesser degree, by the MEKKAM-3 and MEKKAM-6 auctions.