U.S. dollar market of Kazakhstan: day results

/IRBIS, July 02, 02/ - Following is the table of major indicators of Kazakhstan market for U.S. dollar (more than 99% of country's all currency market). Trends are shown relative to corresponding figures of previous day. ---------------------------------------------------------------------------- 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) 153.45(+0.15) 153.45(-0.01) - - Volume of session (m) 5.040(+3.130) 2.550(-0.365) 0 0 Bid 153.46(+0.16) 153.43(+0.03) - - Offer 153.47(+0.16) 153.46(-0.01) - - Number of participants 18(+2) 12(0) 0 0 ---------------------- ------------- ------------- ----------- ------------- Indicative U.S. dollar quotations in over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ---------------------------------------------------------------------------- Bid 153.44(+0.17) 153.43(+0.03) 153.41(-0.03) Offer 153.49(+0.29) 153.53(+0.08) 153.44(-0.02) ---------------------------------------------------------------------------- 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's quotations the best prices for ask and bid at the closing of trades are given. Major event for today - stabilization of US dollar rate with offer volume growth. In spite of significant growth of the rate on the morning session relative to Monday, sellers were not able to raise the rate later. In the morning dollar was traded at 153.45, and on the day session it was hardly raised to 153.47, but sellers failed to hold the rate at this level. Thus, interbanking market and exchange market closed today with little decrease. On the one hand, there is an excess of dollars at the market now. On the other hand, there are enough tenge. This situation stabilizes currency exchange market. However, in IRBIS analysts' opinion, dollar can win back some points from tenge. Almost double increase of USD offer was due to only one STB, which cannot be classified as traditional seller. At that, there can be observed speculative component in the behavior of trader of the bank. This factor looks like local, and there is no guarantee that tomorrow currency will come at the same level. At that, amount of buyers grew double. These banks are expected to show incompliance tomorrow. However, today they came compromise easily during the first half of the day and this proves that there is competition client demand, which can help seller at least to hold the market at reached 153.45. [2002-07-02]