U.S. dollar market of Kazakhstan: day results

/IRBIS, Oct.31, 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 the trades (AST) 10:15a-11:00a 11:30a-3:30p 2:00p-6:00p 2:00p-6:00p Weighted average rate 142.58 (-0.05) Not shown - - Volume of session (mln) 7.210(+2.690) 0.360(+0.160) 0 0 Bid 142.58 142.59 - - Offer 142.59 142.64 - - Number of participants 15 5 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 142.54 142.54 142.56 Offer 142.58 142.62 142.60 ----------------------------------------------------------------------------- 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 5 points on bid and 2 points on offer of the American currency in comparison with previous day closing. The results of the day did not reveal any clear trend in the development of the U.S. dollar market. Weak inclination of the dollar's quotations towards the growth, that was observed at the day trades and on interbank market after the closing of the morning session of the KASE, did not turn into a steady trend. On the contrary, the USD quotations on interbank market subsided slightly before the closing of the day, which was apparently due to big borrowing amounts of the Ministry of Finance and the National Bank on the GB primary market. At the auction of the notes (the accounts should be settled only tomorrow) the National Bank borrowed a record high amount for the last one and a half years - KZT4.4 bln, satisfying almost all the bids submitted by the investors. In addition, KZT620 mln was raised by the Ministry of Finance at MEIKAM offering. This "cleanup" of the BST correspondent accounts affected the cost of the shortest money: by the evening their rates jumped at 1.0/3.0 APR against the day values of 0.5/2.5 APR. But, it is still far from the deficit of tenge. The market situation suggests that on Wednesday at the first currency trades the dollar will be able to gain back some points from tenge. But, such a fluctuation of the exchange rate is merely another variation of the USD cost under a stable market and strong tenge.