U.S. dollar market of Kazakhstan: day results

/IRBIS, September 09, 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) 154.66(+0.03) 154.64(+0.08) - - Volume of session (m) 3.615(-0.315) 4.750(+0.010) 0 0 Bid 154.65(+0.03) 154.63(+0.07) - - Offer 154.66(+0.03) 154.64(+0.07) - - Number of participants 15(-1) 14(+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 154.64(+0.02) 154.60(+0.05) 154.60(+0.03) Offer 154.70(+0.09) 154.66(+0.07) 154.65(+0.02) ---------------------------------------------------------------------------------- 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 banks used a small "window" in the schedule of currency proceeds of exporters at KASE doe strengthening of dollar positions. However it was not possible neither in the morning nor in the afternoon to raise USD rate much. Only rather high level of active phase opening of KASE morning trade allowed to raise weighted average USD rate by the results of the main session relative to Friday. USD offer volume at the day trades increased - exporters tried to realize hopes for appeared tendency of dollar strengthening. However, it was not possible to keep the market on the level of opening - 154.66, and under the pressure of offer dollar rate went down by two points. Results of the day allow to speak about stable price correlation at the market. At present USD purchasers (mainly one bank to be more exact) will hardly be uncompromising even despite growing short-term liquidity of STB. According to IRBIS specialists' opinion, one should expect with high probability of growth USD offer volume. It is not occasional that the head bank of the country did not "uphold" the market from below today with its official dollar quotation and kept some reserve of tenge for strengthening. Parameters of closing of the day show that dollar rate may increase a bit tomorrow, but the speed of growing will not be high. At the same time the reverse movement of the rate is also possible, is case USD offer volume significantly increases. [2002-09-09]