U.S. dollar market of Kazakhstan: day results

/IRBIS, July 12, 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 142.70 (-0.05) Not indicated - - Volume of session (mln) 9.495 (+7.365) 0.755 0 0 Bid 142.70 142.73 *142.65 - Offer 142.71 142.76 *142.74 - Number of participants 18 10 1 1 ------------------------ --------------- ------------- ----------- ----------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) ------------------------ --------------- ------------- ----------- ----------- Bid 142.67 142.73 142.72 Offer 142.71 142.78 142.76 ------------------------------------------------------------------------------- Notes: Best bid and offer prices at closing of the trades are shown as the Exchange quotations. In case of absence of them in the KASE trade system the last quotations are shown, which are marked with an asterisk (in this case - at 3:20PM). By indicative interbank quotations of the US dollar in REUTERS information system, tenge lost 7 points both on demand, and on supply of the American currency in comparison with previous day closing. Today the dynamics of the dollar quotations on the country's currency market were characterized by two trends. During the first part of the day tenge was clearly inclined to firm, whereas approximately one hour after closing of the main session of KASE the trend reversed, and subsequent changes in the USD exchange rate were showing a gradual and steady growth of the dollar. It lasted till almost the evening, when over-the-counter quotations stabilized at the level slightly over the closing parameters of the Exchange's main session. In the opinions of IRBIS analysts, such developments were caused solely by the payment and repayment schedule of state securities. The investors had to transfer the money for the bonds purchased during the week today till 4PM. And tomorrow the money for previously issued SS will flow into correspondent accounts of the banks. The amount of this money is estimated at KZT2,074.8 mln in this week. Therefore, after meeting their obligations to the Ministry of finance and the National Bank, the second tier banks began to raise the exchange rate of the dollar in the second part of the day, and based on the results of the day trades of the Exchange, they succeeded. The results of the market situation analysis allows to assume that on Thursday trades the dollar may gain back up to 10 points from the tenge.