U.S. dollar market of Kazakhstan: day results

/IRBIS, July 29, 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) 154.00( 0) 154.00(+0.02) - - Volume of session (m) 5.050(-5.865) 3.400(-0.300) 0 0 Bid 154.00(+0.02) 153.99(+0.02) 154.00( 0) - Offer 154.01(+0.01) 154.00(+0.02) - - Number of participants 16( 0) 14(-2) 1(-1) - ---------------------- ------------- ------------- ----------- ----------- Indicative U.S. dollar quotations in over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) -------------------------------------------------------------------------- Bid 153.96( 0) 153.97(-0.04) 154.01( 0) Offer 154.01(-0.01) 154.02(-0.04) 154.07( 0) -------------------------------------------------------------------------- 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. At Kazakhstan US dollar market nothing significant happened. Activity of exchange trades sharply decreased - transactions volumes fell more than twice. During the day market demonstrated high price stability of quotations and prices. Decrease of offer volume of American currency (in particular it recently leads market volume) didn't influence tenge stability. Buyers didn't go on compromises neither in the morning nor in the afternoon. Trials of USD sellers to play up failed. At the same time, considering experience and mood of traders we can suggest that the market looks upwards. To this time incompliance of buyers is strengthened by resources tie-up of banks, which execute reserve requirements and prefer to stay in tenge, as rates of tenge offering are higher than in dollars. However, on Tuesday already due to the end of the month the situation can change, and the dollar rate can move up. In IRBIS specialists' opinion, it is difficult to expect rapid growth of the rate, because exporters are still wait for more applicable prices of USD for them in local market and will raise dollar offer volume in case of rate upgrowth. However, they can succeed to lead the rate to 154.20 on the current week already. In general the situation at the currency market looks very stable. [2002-07-29]