U.S. dollar market of Kazakhstan: day results

/IRBIS, October 23, 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) 154.31(-0.01) 154.31(-0.10) - - Volume of session (m) 8.830(-0.085) 7.550(+4.730) 0( 0) 0( 0) Bid 154.30(-0.02) 154.29(-0.11) 154.30(-0.08) - Offer 154.31(-0.02) 154.31(-0.10) 154.40(+0.4) - Number of participants 17(-1) 14(+1) 1(-1) 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 154.27(-0.03) 154.27(-0.09) 154.34(-0.05) Offer 154.32(-0.01) 154.32(-0.09) 154.39(-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. Dollar offer volume at Kazakhstan stock exchange's market remained high today. According to dealers' information, this volume was mainly determined by bids for sale of exporters' currency proceeds. High USD offer predetermined gravitating of KZT rate towards towards growing both at morning and day trades of KASE. Only the evening quotations of over the counter market gave insignificant strengthening of dollar. As the whole the market seems to be "pressed" to the support level, which is determined much by the country's head bank. There is still felt deficit of tenge at the market. this is said about by traders and results of floatation of notes of the National Bank, demand for which relative to previous auction has fallen 2.3 times less. At the same time rates of repo "overnight" continue to fall and are close to the normal level. In the opinion of IRBIS specialists, as the end of the month comes closer and short-term liquidity of STB is regaining, volume of dollar offer will be decreasing that is to cause growth of dollar rate. But on Thursday there is to be no changes in the conjuncture. The pre-holiday demand can raise dollar a bit relative to yesterday's level, but holidays may cause growth of offer too. Thus IRBIS analysts expect minimal dynamics of dollar prices at KASE tomorrow. [2002-10-23]