U.S. dollar market of Kazakhstan: day results

/IRBIS, Oct 20, 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 142.69(+0.10) Not shown - - Volume of session (mln) 2.640(+0.405) 0.850 (+0.850) 0 0 Bid 142.67 142.64 - - Offer 142.68 142.67 - - Number of participants 20 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 142.62 142.59 142.64 Offer 142.68 142.65 142.69 ---------------------------------------------------------------------------- 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 4 points on demand and 1 point on supply of the American currency in comparison with previous day closing. Today market demonstrated its ability to reverse dollar trend during single day. The morning trades displayed that dollar did spend its growth potential. Day session passed in conditions of continues fall of the dollar. The interbank quotations confirmed this. Just before the closing the dealers traditionally tested market. They tried to bullish it, yet they were not successful. It is not excepting that at the second half of the day large dollar volumes appeared on the market giving a room for tenge to move up. Besides, traders resources and fund were attracted by MEKKAM-3 and notes-35 auctions. At the first half of the Monday, market will probably be in equilibrium. However, tenge will tend to grow. Considerable dollar growth registered on morning session was supported by traders for the rest of a day. During additional session dollar had a growth trend. At the closing the rate exceeded 10 percentage points over its weighted average figure. Only at the evening, indicative quotations on the interbank market did slide down. Most probably, this was caused by last GS auction conducted by NBK. Investors demand was sizeable as indicated by auction results. The placement certainly affected short-term money cost. By the evening, cost of short-term money slightly increased. At the closing they were fixed at 2/3% APR. Day results allow to assume that next trades will be marked by decrease of the dollar. The growth rate will be somewhat equal to yesterday decrease rate.