U.S. dollar market of Kazakhstan: day results

/IRBIS, May 10, 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 TOD USD TOD 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 142.42 (+0.10) Not indicated - - Volume of session (mln) 6.030 (-0.140) 2.580 0 0 Bid 142.43 142.54 - - Offer 142.44 142.58 142.65 - Number of participants 18 7 3 3 ------------------------ --------------- ------------- ----------- ----------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) ------------------------ --------------- ------------- ----------- ----------- Bid 142.39 142.54 142.56 Offer 142.47 142.59 142.64 ------------------------------------------------------------------------------- Notes: Best bid and offer 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 26 points in comparison with previous day closing on both demand and supply sides of the American currency. Dollar market was active and liquid today with prevailing demand side, notably on main and additional sessions of KASE as well as according to indicative interbank quotations. Virtually, every following dollar quotation was higher than previous one. Only at the end of trades tenge rate somewhat improved. Demand size was so perceptible that participants had little time to satisfy all applications on the day session. As a result, in the beginning of additional day session total dollar trade volume achieved $1.300 mln. Analyzing current situation, IRBIS experts came to a conclusion that these movements were due to accumulated during the holidays demand on dollar. Several pre-holiday developments marked by tenge rate reversals due to objective factors had contributed to the formation of current situation as some dealers were interested in strengthening of this trend. It is not excepted also that on the threshold of new euronotes emission (fourth emission), banks and their clients were accumulating funds for purchasing of these notes. In spite of seeming market dynamics, it should be noted, that dollar rate fluctuations are fully kept within its usual amplitude under approximate equilibrium of supply and demand. On Thursday and possibly on Friday, dollar will definitely strength it position. However, according to IRBIS experts, the reviewed trend has local direction and will likely lose its strength at the end of current and the mid of next week.