U.S. dollar market of Kazakhstan: day results
15.10.02 00:00
/IRBIS, October 15, 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.
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Trades in U.S. dollars at Kazakhstan stock exchange (KASE)
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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) 154.26(-0.04) 154.24( -) 154.23(-0.06) -
Volume of session (m) 24.435(+12.465) 7.160( -) 0.050(-2.355) 0
Bid 154.25(-0.10) 154.23( -) 154.21(-0.08) -
Offer 154.27(-0.09) 154.24( -) 154.24(-0.06) -
Number of participants 20(+3) 16( -) 5(-7) -
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Indicative U.S. dollar quotations in over-the-counter market in information
system REUTERS at closing of KASE sessions (disregarding settlement dates)
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Bid 154.23(-0.09) 154.20(-0.04) 154.19(-0.11)
Offer 154.27(-0.10) 154.25(-0.02) 154.24(-0.11)
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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.
Nothing principally new occurs at US dollar market of Kazakhstan. During
the whole day tenge was gradually strengthening relative to dollar due to
almost tenfold increase of USD offer volume at the stock exchange. In the
opinion of traders, which were asked today by REUTERS, the main suppliers
of USD at KASE are enterprises-exporters, which sell their currency
proceeds. The National Bank's participation at the market remains significant
значительной, though it's impossible to say that bid of STB is absent at all:
13 net-purchasers today gave significant support to dollar today, judging on
this it is possible to make conclusion that demand for USD grows. However
at the present situation nobody wants to buy dollars at high prices.
Kazakhstan dealers do not deny significant influence upon the market by
redemption of sovereign euronotes of the republic in the beginning of
October, due which to it domestic investors received about $210m. However
influence of this factor gradually comes to naught, and some traders expect
that the very strong pressure upon the market from above, which is present
now, will last no longer than a week. Such the forecast is based on latest
data on import and export of Kazakhstan within eight months of the current
year, which was published today. After significant growth of export in July
there is decrease of the volume of raw stuff supplies to abroad, that in
traders; opinion will cause decrease of USD offer volume at domestic market
in the nearest future.
As regards Wednesday one can assume that tenge will continue to fluently
strengthen at KASE main session for the National Bank does not make strict
levels of market support, avoiding sharp increase of monetary base by
means of total purchase of USD at the stock exchange.
[2002-10-15]