U.S. dollar market of Kazakhstan: day results

/IRBIS, September 06, 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) 154.63(+0.05) 154.56(-0.01) - - Volume of session (m) 3.930(+1.465) 4.740(+3.090) 0 0 Bid 154.62(+0.04) 154.56(-0.01) - - Offer 154.63(+0.04) 154.57(-0.01) - - Number of participants 16( 0) 13(-4) 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 154.62(+0.06) 154.55(-0.02) 154.57(-0.01) Offer 154.61(+0.06) 154.59(-0.03) 154.63( 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. The day at the Kazakhstan market of US dollar was characterized with gradual growth of the offer volume of American currency by both banks specialized on its sale and other participants. Relative to the previous day the volume of dollar realization at the Exchange grew twice. At that, the number of USD buyers notably decreased. Such a dynamics seems to be quite logical, as Kazakhstan exporters usually sell their currency receipts in the local market in the middle of each month. In IRBIS analysts' opinion, the offer volume of USD in the near future will be rising. As it was already mentioned today, during the main session at KASE all deals were made at one price - KZT154.63 per dollar - on the last one and a half minute of the trade. Day trades opened at the same level. However growing offer volume did not allow traders to hold the market at the reached level, and dollar rate gradually declined to the end of the session to KZT154.56 per dollar. Fluctuations of indicative quotations at the inter-banking over-the-counter market were similar. In the afternoon they were almost stable, and insignificant strengthening of tenge was observed. IRBIS specialists think that on the next week the Exchange rate of dollar will insensibly nestle up to the official quotation of the National Bank under the pressure of the growing offer of American currency. [2002-09-06]