U.S. dollar market of Kazakhstan: day results

/IRBIS, Dec.6, 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 144.44(+0.03) Not shown - - Volume of session (mln) 3.655(+0.305) 0.900(-0.075) 0 0 Bid 144.44 144.43 - - Offer 144.45 144.47 - - Number of participants 17 9 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 144.41 144.43 144.41 Offer 144.47 144.48 144.44 ------------------------------------------------------------------------------- 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 3 points on bid and 4 points on offer of the American currency in comparison with previous day closing. The day looked rather divers. The dollar market is still active, yet the dollar rate slowed. This was much visible during the morning session. The day trades could not raise dollar over KZT144.49, the main trade volume was made at lower rate (two, three points). On the interbank off-exchange market, rare evening indicative quotations fixed some decrease of the dollar value. Fluctuations were too weak to define any trend. IRBIS analysts suggest that market resistance was reasoned by necessity to pay off the GB purchased during the week (KZT3.8 bln). Despite this large sum, liquidity of banks was not undermined. No deals were made in REPO sector. During next two days the forex market situation will depend on redemption of GB that will reach KZT4,464 mln by the end of a week. The National Bank would partly seize money on Friday floating its notes, while the Ministry of Finance could do the same on MEKKAM-6 auction on Thursday. Nevertheless, bank's liquidity will remain high these days. This fact does not permit IRBIS to clearly suggest that dollar will further slow on the next days of a week. Dollar has equal opportunities for decrease and increase. The market is being in state of equilibrium.