U.S. dollar market of Kazakhstan: day results

/IRBIS, July 17, 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) 153.76(+0.06) 153.83(+0.10) - - Volume of session (m) 7.000(-1.110) 4.100(+2.600) 0 0 Bid 153.80(+0.09) 153.79(+0.06) - - Offer 153.81(+0.09) 153.84(+0.10) - - Number of participants 18(+1) 14(+1) 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 153.77(+0.09) 153.79(+0.09) 153.79(+0.11) Offer 153.82(+0.08) 153.84(+0.09) 153.82(+0.09) ---------------------------------------------------------------------------- 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. Judging by rates at the market of the shortest money, and also net-positions of main participants' categories on the repo floors at KASE, short-term liquidity of second tier banks began to recover today. It leaded to increase of bid on American currency, and namely it set today's trades volume. However this demand on Exchange trades was strongly monopolized. In the morning 40% of purchases was made by one trader, in the afternoon almost 55% of all currency sold at KASE was bought by another bank. In general, the market gives the impression of opened to lifting up. This was demonstrated during the day session of the Exchange, where dollar fell from 153.90 to 153.77 tenge per unit during the first half of the session, and only then sellers succeed to lead the rate to 153.83. USD buyers in general unwillingly go to compromises. By results of the day it can be said that disposition of currency exchange market participants looks traditional. Thus the rate forms mainly as a result of objective correlation of offer of USD by enterprises-exporters and bids, asked by importers. At that, the initiative is still in the hands of the first ones. American currency rate continues to go up a little. Closing day parameters (see table), and also conjuncture of the currency market allow us to expect growth of US dollar rate on Tuesday with speed reached today. At that, the possibility of significant volumes of currency earnings advent remains high, which is stabilizing rate-forming factor. [2002-07-17]