U.S. dollar market of Kazakhstan: day results

/IRBIS, March 27, 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 14:00a-3:30p 2:00p-6:00p 2:00p-6:00p Rate (KZT/USD) 145.49(+0.04) 145.46(-0.01) - - Volume of session (mln) 4.815(-5.365) 0.200(-0.860) 0 0 Bid 145.48(+0.02) 145.45(-0.01) - - Ask 145.49(+0.02) 145.46(-0.02) - - Number of participants 21 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 145.45(+0.03) 145.39(-0.03) 145.41(-0.03) Ask 145.50(+0.04) 145.45(-0.03) 145.48(-0.01) ----------------------------------------------------------------------------- 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 the last quotations (marked by a star) in the trades system are given. There were nothing new on the market today. The market is stable, and it is hard to disturb its balance. Some growth of the dollar's exchange rate at the morning session caused, most likely, by a psychological factor than by an objective proportion of demand to the supply, did not bring anything good for the American currency at the end of the day. The second half of the day went with the traders' minimum activity and compensatory rollback of the market. There is much money on the market. However, the banks are not in hurry to use it in currency sector. Therefore, the dollar remains now at the lowest in the opinion of the National Bank. The risk of appearing a big volume of dollar supplies at the KASE is still great, and the traders are not taking active steps towards upward gambling. Based on the movements of market indicators in the afternoon, tomorrow tenge can gain some against the dollar at the morning session of the KASE. In general, it should be noted, that the market has stopped within KZT145.45 - 145.60 interval for a while, and spring activation of the market is far away. But, the experience of the previous year shows that the factors that can cause the dollar to grow quickly in early April, are not able to influence the market effectively under a big inflow of dollars to the country. Therefore, it is possible that expectations of the devaluation in spring are not justified now as they were in the past.