U.S. dollar market of Kazakhstan: day results
05.10.00 00:00
/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).
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Trades in U.S. dollars at 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 (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
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Indicative
U.S. dollar quotations on interbank over-the-counter market in information
system REUTERS at closing of KASE sessions (disregarding settlement dates)
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Bid 142.43 142.49 142.49
Offer 142.50 142.55 142.55
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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.