U.S. dollar market of Kazakhstan: day results

/IRBIS, July 16, 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) 153.70(-0.44) 153.73(-0.13) - - Volume of session (m) 8.110(+1.180) 1.500(-4.215) 0 0 Bid 153.71(-0.44) 153.73(-0.11) - - Offer 153.72(-0.44) 153.74(-0.12) - - Number of participants 17(0) 13(-1) 0 0 ----------------------- -------------- ------------- ----------- ------------- Indicative U.S. dollar quotations in over-the-counter market in information system Indicative U.S. dollar quotations in over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ---------------------------------------------------------------------------------- Bid 153.68(-0.44) 153.70(-0.12) 153.68(-0.17) Offer 153.74(-0.45) 153.75(-0.13) 153.73(-0.16) ---------------------------------------------------------------------------------- Notes: weighted average rate is given for main and evening sessions, for additional - closing rate; best ask and offer prices at closing of the trades are shown as the Exchange's quotations. Today US dollar market changed. Yesterday in the afternoon it was felt that banks are lack of tenge. Today rates and quotations of the shortest money grew a lot, which shows banks' deficit of short-term liquidity. Clients conduct budget payments. In IRBIS analysts' opinion, namely this factor critical in behavior of banks during the work with dollar at KASE. There was no any bid on the morning session from the side of STB. This made NBK add tenge on the floors, making a stabilizing influence on market, which predetermined further events. During the day session at KASE the rate stabilized, as banks that have client orders on dollar purchase were forced to take American currency some points higher than support rate determined by NBK. Evening over-the-counter market closed with significant decrease, reflecting the Exchange tendencies. In IRBIS analysts' opinion, on Wednesday on the morning session at KASE minimum dynamics of US dollar rate is expected, as conjuncture of the market, most likely, will be similar to the today's day session. Strong bid from the side of STB is unlikely to appear, and excess USD offer, most likely, will be purchased by NBK at determined support rate. Thus weighted average rate of American currency by results of the morning session will be formed within 153.70 - 153.75 tenge per dollar. [2002-07-16]