U.S. dollar market of Kazakhstan: day results

/IRBIS, September 19, 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) 154.44(-0.01) 154.44(-0.01) - - Volume of session (m) 17.470(+12.140) 1.490(-0.010) 0 0 Bid 154.44(-0.01) 154.43(-0.01) 154.43(-0.02) - Offer 154.45(-0.01) 154.44(-0.02) - - Number of participants 17( 0) 14(+3) 5( 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 154.42( 0) 154.42( 0) 154.42(-0.02) Offer 154.48(+0.01) 154.45(-0.02) 154.47( 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. Results of the day are evidence of the fact that nothing principally new occurs at Kazakhstan money market. Currency proceeds sale at KASE goes on. USD offer volume at the stock exchange, which has increased almost three times as much relative to Wednesday, again led the market to KZT154.44 per dollar. The National Bank had to add tenge to the floor again in order to prevent superfluous strengthening of the national currency. However it should be noted that demand of STB and their clients was very high. It is enough to say that by the results of all stock exchange's trades net-position of four STB exceeded million dollars for purchase and net- position of one of them reached 3.5m. Tenge aspiration for strengthening occurs because of "overnight" rates falling and superfluous short-term liquidity of STB. Today in KASE repo sector the National Bank increased volume of market sterilization, but even then, indicator TONIA fell down to 3.76% APR, and banks' resulting position caused floatation by them of almost billion of "excessive" tenge. This all is evidence of the fact that dollar market still belongs to clients and banks sell mainly exporters' currency. Market conjuncture on Friday will depend on USD offer volume. If it remains on the same level, the rate will not change, if it falls - insignificant strengthening of USD by 1-3 points is possible. [2002-09-19]