U.S. dollar market of Kazakhstan: day results

/IRBIS, Feb 5, 01/ - 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) 10:15a-11:00a 11:30a-3:30p 2:00p-6:00p 2:00p-6:00p Rate (KZT/USD) 145.24(+0.07) 145.23(+0.01) - - Volume of session (mln) 1.715(-1.185) 0.700(-0.865) 0 0 Bid 145.22 145.23 - - Offer 145.23 145.26 *145.28 - Number of participants 19 9 1 1 ------------------------------------------------------------------------------- U.S. dollar quotations on interbank over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ------------------------------------------------------------------------------- Bid 145.18 145.23 145.23 Offer 145.23 145.29 145.27 ------------------------------------------------------------------------------- Notes: weighted average rate is given for main session, for additional - closing rate; best ask and offer prices at closing of the trades are shown as the Exchange quotations. In case of their absence in the trades system last quotations are given (marked by a star). In the table these quotations were made at 16:17. By indicative interbank quotations of the US dollar in REUTERS information system, tenge lost 9 points both on ask bid and 7 points on offer bid of the American currency in comparison with previous day closing. The activity of market participants was not so high. Traders have recently reallocated their interest from dollar to other financial instruments. The clear example is today's auction for MEOKAM-36 where investors have submitted bids for 1 bln tenge and higher. The day started from announcement of official exchange rate of the US dollar. It grew up by 5 points while the market did not catch tenge weakening trend. As IRBIS analysts had previously noted the NBK just showed its vision of the market while dealers agreed on it. High opening of the morning session has had only partial impact on the rest of a day. Day session closed slightly lower than WA rate of the main session. Following interbank quotations showed weak dollar growth potential. Demand for dollar was moderate. While, possibility of export proceeds flowing to the market is still high as exporters have to settle budget payments by result of January. It creates a risk for opening of long positions. Thus, the dollar growth will unlikely be lasting and pronounced even despite high liquidity of banks. This liquidity will be mostly used on the GB market. Nevertheless, day closing parameters suggest that probability of dollar growth on first Tuesday trades is higher than its chances for weakening. IRBIS analysts expect minimal fluctuations.