U.S. dollar market of Kazakhstan: day results

/IRBIS, July 22, 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) 153.75(-0.06) 153.72(-0.03) - - Volume of session (m) 9.905(+4.895) 4.730(+0.580) 0 0 Bid 153.73(-0.05) 153.71(-0.03) - - Offer 153.74(-0.05) 153.74(-0.02) - - Number of participants 19(+5) 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 153.70(-0.06) 153.72(-0.04) 153.73(-0.04) Offer 153.75(-0.06) 153.76(-0.05) 153.77(-0.05) ---------------------------------------------------------------------------- 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. Day at the currency market of Kazakhstan appeared to be very active. Relative to Friday offer volume of dollars at KASE became 1.5 times greater. According to results of two conducted trades the first three positions in the rating of sellers activity were taken by banks that specialize on serving of exporters, which allow us to suggest the realization of currency receipts by them at the Exchange. Large volume of required client orders on dollar selling let buyers to take an initiative during the second half of the morning trades already. As a result the market began slowly to get down. On the day trades the situation was similar. Sellers succeed to hold the rate at 153.74 only to the certain point of time. Growth of ask volume at the final stage of the session did not find an adequate demand from the side of STB, and the National Bank was forced to support dollar slightly. In general, the market looks rather stable in the price respect. Bid on dollar exists, but large volumes of the currency, went on sale to the Exchange, allow buyers to show their incompliance. It can hardly be said that short-term liquidity of banks, according to their behavior in the repo sector at KASE, is redundant, because short money are still expensive. Potential of American currency to strengthening is insignificant. According to results of the day analysis, dollar might yield minimum amount of points to tenge on Tuesday. [2002-07-22]