U.S. dollar market of Kazakhstan: day results

/IRBIS, June 19, 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 142.48 (-0.05) Not indicated - - Volume of session (mln) 2.865 (-7.055) 0.200 0 0 Bid 142.49 142.45 - - Offer 142.50 142.48 - - Number of participants 15 6 0 0 ------------------------ --------------- ------------- ----------- ----------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) ------------------------ --------------- ------------- ----------- ----------- Bid 142.46 142.42 142.43 Offer 142.50 142.47 142.47 ------------------------------------------------------------------------------- Notes: Best bid and offer prices at closing of the trades are shown as the Exchange quotations. By indicative interbank quotations of the US dollar in REUTERS information system, tenge lost 1 point on demand, and gained 5 points on supply of the American currency in comparison with previous day closing. Today currency market was less active than it was on Friday. After selling the remaining free money, that was left in correspondent accounts after SS auction of last week, the banks significantly decreased their activity at the morning trades of the Exchange in dollars. Rare USD quotations at the additional session did not indicate that any trend of the exchange rate was developing. It seemed as if the market is waiting for something, as it usually happens on Mondays after large borrowings of the National Bank and the Ministry of finance on Friday. Interbank over-the-counter market was more tendentious. A slight inclination of the tenge towards firming against the U.S. dollar was observed throughout the day. Based on the rates of the shortest money, there is a slight deficit of tenge on the market. It caused the demand at the next issue of one year MEKKAM offering today, and certainly influenced the exchange rate of the dollar. After making an analysis of current situation of the market and the behaviors of its participants, it can be assumed that at the next KASE trades on Tuesday the tenge has more chances of gaining some points than losing them. However, the market is demonstrating a balance, and some change in the exchange rate in either direction is quite possible.