/IRBIS, Jan 15, 01/ - 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)     10:15a-11:00a   11:30a-3:30p  2:00p-6:00p  2:00p-6:00p
Weighted average rate    145.28(-0.15)             NA            -            -
Volume of session (mln)  2.875(+0.475)  0.100(-1.805)            0            0
Bid                             145.27         145.38            -            -
Offer                           145.29         145.40            -            -
Number of participants              11              9            0            0
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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                             145.26         145.26                    145.26
Offer                           145.31         145.31                    145.31
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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 gained 11 points on ask bid and 10 points on offer bid of the American currency in comparison with previous day closing.

he forex market condition was mainly shaped by one factor - low tenge liquidity. Interbank "overnight" quotations grew up to 8/16% APR. In the repo sector of KASE, borrowing volume reached five month record breaking value - KZT4,114.6 mln. Rates for 1-3 days jumped twice. On auction for notes-56 with KZT1 bln of the announced volume NBK was offered KZT156.9 mln of which only KZT20.7 mln was raised at the acceptable yield. Situation was aggravated by the US Holiday that deprived traders of the right to conduct TOD payment. Thus, traders lost interest to the dollar as an instrument to maintain short-term liquidity.

Thus, the US dollar market lost its pace. Dollar was falling during all main session. On the additional trades traders concluded only 2 deals made at weighted average rate of the morning session. Indicative quotations on the interbank were not put at all.

Considering above mentioned facts IRBIS analysts expect revival of the market on Tuesday. Prevalence of dollar supply further tenge strengthening looks clear. Liquidity of banks could be slightly supported by KZT560.6 mln notes redemption on Jan.16. This is obviously insufficient sum to prevent dollar sales of some banks. Liquidity problem will fully disappear on Jan.18. At that date, banks will receive KZT8.0 bln for previously issued notes. This factor will retain traders from massive dollar sales on Tuesday and Wednesday, thus defending dollar fall. Tenge will be borrowed on the interbank deposit market and the REPO sector.