U.S. dollar market of Kazakhstan: day results

/IRBIS, Apr.3, 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 142.00(+0.05) Not indicated - - Volume of the session(mln) 0.610(-2.705) 1.050 0 0 Ask 141.99 141.84 - - Bid 142.00 141.89 142.15 - Number of participants 18 10 4 4 -------------------------- -------------- ------------- ----------- ----------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) -------------------------- -------------- -------------- ---------- ----------- Ask 141.83 141.80 141.90 Bid 141.93 141.88 142.00 ------------------------------------------------------------------------------- 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 10 points in comparison with previous day closing both on demand and on supply of the American currency. Today short term liquidity of the banks was low from the morning, which probably set the mood of the day. Despite of this, dealers raised the market for another 5 points, preferring not to sell dollars but "wait and see". Volume of the trades did not exceed 1 mln USD. It means that the expectations of future devaluation is very high. Dealers are waiting for the money to come to their correspondent accounts in the second half of the week (SS repayment volume is extraordinary high for this week - KZT4,343.7 mln) and they prefer not to take active steps. But in the day session of KASE, which was more productive than the main session for the first time, the conjuncture of the market changed and supply of dollars exceeded demand. Trades registered 12 point decrease in the exchange rate of USD. The market "recovered" only in two hours before closing on forward terms and out of the Exchange. Overnight gradually fell to 5/10 APR against 14/20 in the morning. And indicative interbank quotations of the dollar showed a slight trend of firming American currency, but they did not reach the closing levels of the main session. Behaviors of the market indicators show that on Tuesday tenge will either tend to grow, or remain stable in the main session of KASE. High activity of the dealers is hardly possible.