U.S. dollar market of Kazakhstan: day results

/IRBIS, May 11, 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 142.54 (+0.12) Not indicated - - Volume of session (mln) 3.175 (-2.855) 1.650 0 0 Bid 142.51 142.54 - - Offer 142.52 142.55 - - Number of participants 20 10 1 1 ------------------------ --------------- ------------- ----------- ----------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) ------------------------ --------------- ------------- ----------- ----------- Bid 142.46 142.54 142.55 Offer 142.52 142.58 142.59 ------------------------------------------------------------------------------- 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 gained 1 point on demand and 5 points on supply side of the American currency in comparison with previous day closing. Day results allow to confirm a cooling and stabilization of the market after recent predominance of dollar demand. A beginning of trades in euronotes of the fourth emission has its certain impact on the market and somehow provokes demand on US dollar. At the first circulation day on KASE, transaction volume of the notes was $680 th worth of nominal debt. The exchange and interbank quotations already showed no signs of remarkable growth on today's market. The dynamics confirms market stabilization. The high demand on today's floatation of MEKKAM-3 has to be noted particularly. From KZT2,577.9 mln of investors' offerings, the Ministry of Finance took KZT1,366.6 mln that led to notable marker sterilization. The very fact of this proves banks' reluctance to invest in dollar as the state securities are more preferable. Final stabilization on the forex market should be expected if we will consider floatation of two bonds emissions on Friday. Taking into account all objective factors, Friday day session will be marked by minimal strengthening of US dollar and its decline at the second half of the day.