U.S. dollar market of Kazakhstan: day results

/IRBIS, July 31, 00/ - Following is the table of major indicators of Kazakhstan market for U.S. dollar (more than 98% of countryТs all currency market). -------------------------------------------------------------------------------- Trades in U.S. dollars at Kazakhstan stock exchange (KASE) -------------------------------------------------------------------------------- Instrument USD TOD USD TOD USD TOM USD SPOT Session Main Additional. Evening Evening Time of the trades (ALM) 10:15-11:00 11:30-15:30 14:00-18:00 14:00-18:00 Weighted average rate 142.71(-0.04) Not indicated - - Volume of the session, mln 4.365(+1.015) 0.630 0 0 Bid 142.70 142.65 - - Offer 142.71 142.69 - - Number of participants 16 5 0 0 -------------------------------------------------------------------------------- Indicative US dollar quotations in the interbank market in the information system REUTERS at KASE sessions closing (disregarding settlement dates) -------------------------------------------------------------------------------- Bid 142.68 142.63 142.61 Offer 142.70 142.66 142.66 -------------------------------------------------------------------------------- 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 gained 13 points on demand and 11 points on supply of the American currency in comparison with previous day closing. In comparison with previous days, todayТs market was more dynamic. During whole day, market conditions were seeing prevalence of the dollar supply over demand. The probable reason for this is exporters activity before the end of month. As a result, the tenge was strengthening in all forex sectors. The previous week GS redemption helped maintain increased and even excessive liquidity of banks. Quotations of short money, grew from 1.5/5.5 to 3/6 APR in the mid day and decreased till 1/3 at the evening. This makes investors to look for new funds utilisation facilities and todayТs MEKKAM-6 floatation provided investors with them. Demand 6.5 times exceeded supply. The issuer again limited itself with planned volume trying to shift funds to a Tuesday MEOKAM floatation. The MOF positions look strong. The banks do not show intentions to use funds on the forex floor of KASE. There is, however, some possibility of alteration in the market on the next month. USD demand could raise. Meanwhile, indicative quotations on the interbank off-exchange market and day closing parameters allow IRBIS analysts to expect further strengthening of tenge against the dollar on Tuesday.