U.S. dollar market of Kazakhstan: day results

/IRBIS, Oct 05, 00/ - Following is the table of major indicators of Kazakhstan market for U.S. dollar (more than 98% of country's 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 trades (AST) 10:15-11:00 11:30-15:30 14:00-18:00 14:00-18:00 Weighted average rate 142.47(+0.07) Not shown - - Volume of session (mln) 0.505(-6.045) 1.050(+0.945) 0 0 Bid 142.50 142.50 - - Offer 142.51 142.54 - - Number of participants 16 13 0 0 ------------------------------------------------------------------------------- Indicative U.S. dollar quotations on interbank over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ------------------------------------------------------------------------------- Bid 142.43 142.49 142.49 Offer 142.50 142.55 142.55 ------------------------------------------------------------------------------- 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 12 points both on demand and on supply of the American currency in comparison with previous day closing. The forex market was intensive today. Before the lunch traders tried to avoid active actions. Despite deficit of exporters on the market and favourable conditions to bull the dollar, new trend was set by two deals with insignificant volumes on the main exchange session. Banks were affected by results of payments of purchased GS. Thus, demand was not high. Day session also caught the pace and was more active. During all session, dollar rate was steadily increasing and reached at closing KZT142.54. The off-exchange Interbank quotations in the afternoon were also demonstrating pronounced trend for dollar rise. This added effect to the market mood. NBK sterilization of banks accounts through notes issue has an impact on banks participation. At very moderate supply demand was not high. Market preferred notes and MEKKAM, which was confirmed by demand for securities of KZT3.1 bln. Even this sum was too high and the issuers could only take the part of KZT1.8 bln. The rest of demand was out of cut-off limit. It will appear on Friday auction for MEKKAM-3. Meanwhile, KZT3,468.4 mln could flow to banks accounts on Oct 04, 06 from repayments of GS. Most likely, this fact did not allow overnight quotations to raise over 1.0% APR in demand and 3.0% APR on the supply ()at closing, as morning quotations were at 7.0%). Repo sector also registered some activity. Volume of opening repo operations exceeded KZT 1.0 bln. However, rates are still low: 1.51% APR for 1 day and 3.05 for 6 days. Market parameters indicate that banks short-term liquidity is high. This coupled with closing parameters of the forex allows to assume that Friday dollar rate will grow. The growth will only slightly exceed all recently registered rates.