U.S. dollar market of Kazakhstan: day results
15.06.00 00:00
/IRBIS, June 15, 00/ - Following is the table of major indicators of
Kazakhstan's market for the U.S. dollar (more than 98% of country's all
currency market).
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US dollar trades at the Kazakhstan stock exchange (KASE)
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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 142.57 (-0.25) Not indicated - -
Volume of session (mln) 2.425 (-0.915) 1.930 0 0
Bid 142.55 142.50 - -
Offer 142.56 142.54 - -
Number of participants 17 8 0 0
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Indicative US dollar quotations in the interbank market in the information
system REUTERS at KASE sessions closing (disregarding settlement dates)
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Bid 142.50 142.49 142.49
Offer 142.55 142.59 142.56
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Notes: Best bid and offer prices at closing of the trades are shown as the
Exchange quotations.
By indicative over-the-counter quotations of the US dollar in REUTERS
information system, tenge gained 14 points on the demand, and 11 points
on the supply of American currency in comparison with the previous day
closing.
Today's market of the US dollar was displaying gradual strengthening of the
tenge during the day. It was particularly remarkable before the noon. At the
afternoon, dollar quotations as well as its prices were inclining to decrease
demonstrating only short-term strengthening.
According to the IRBIS experts, the market is influenced by the unwillingness
of the traders to use USD as a profitable tool at the presence of MEKKAM-3
on the primary market. This position exposed the market to the clients' bids.
At the same time, demand is lower than supply. The dealers do not show
any intentions to support dollar and open short positions.
The demand on MEKKAM-3 at the primary auction exceeded KZT1.5 bln, of
which the Ministry of Finance satisfied about KZT1.2 bln. After the floatation,
the indicative over-the-counter quotations visibly declined given growing
prices of the shortest money. It indicated about the shortage of free funds.
This disposition testifies that state bonds are in good demand among the
traders.
The conjuncture of the forex market at Friday will be shaped under the
influence of large volume of SS repayments. Nevertheless, two planned
auctions on SS placements at the same day could neutralize this. Most likely
that the funds left from auctions will appear on the forex market only at
Monday. Judging from this, the IRBIS experts expect that Friday will be
marked by further growth of tenge at the rate close to the current.