U.S. dollar market of Kazakhstan: day results

/IRBIS, March 28, 00/ - Following is the table of major indicators of Kazakhstani market for U.S. dollar (more than 98% of country's all currency market). ------------------------------------------------------------------------------- US dollar trades at the Kazakhstan stock exchange (KASE) -------------------------- -------------- ------------- ----------- ----------- Instrument 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 Weighted average rate 141.95(+0.07) Not indicated - - Volume of the session(mln) 7.010(+2.185) 0.250 0 0 Ask 141.94 - - 141.85 Bid 141.95 141.87 141.95 142.00 Number of participants 18 4 3 3 -------------------------- -------------- ------------- ----------- ----------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) -------------------------- -------------- -------------- ---------- ----------- Ask 141.90 141.80 141.78 Bid 141.99 141.87 141.91 ------------------------------------------------------------------------------- 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 gained 8 points in comparison with previous day closing on demand and 3 points on supply of the American currency. Just like yesterday, activity of the main session of the Exchange was different from that of the other trades. It seems as if the banks invested all their free funds in dollars. When the trades ended overnight rates jumped up and reached 13% APR on demand and 19 on offer. Overnight of the National bank is still at 20% APR. Real repo rates at KASE rose up to 13.65% for one day and up to 14.91% for three days. These figures show that in the second half of the day the conjuncture of the market for the dollar developed under increasing deficit of tenge. Both at the Exchange, and out of it the exchange rate of the American currency "subsided" noticeably and did not go up at closing of the market. At trades with forward terms activity of the dealers was close to zero. Unlike previous day, only offer existed instead of demand prices, which means that the banks are willing to sell dollars to maintain their short term liquidity. Though the National Bank raised official rate of the dollar for tomorrow by 20 points, IRBIS specialists are tend to believe that tenge is likely to firm in the main session of KASE on Wednesday.