U.S. dollar market of Kazakhstan: day results

/IRBIS, November 6, 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) 154.45(-0.05) 154.44(-0.04) - - Volume of session (m) 9.480(+4.285) 8.330(+6.245) 0( 0) 0 Bid 154.44(-0.04) 154.43(-0.05) 154.42(-0.03) - Offer 154.45(-0.05) 154.44(-0.06) - - Number of participants 16(+1) 15(-1) 5(+4) 0 ---------------------- ------------- ------------- ------------- ------------- Indicative U.S. dollar quotations in over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ------------------------------------------------------------------------------ Bid 154.41(-0.06) 154.41(-0.05) 154.44(-0.02) Offer 154.46(-0.06) 154.46(-0.05) 154.50(-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. The day at Kazakhstan money market was marked by more than double increase of USD offer volume that allows to say about coming of the next period of exporters' currency proceeds sale at domestic market. One of banks, which specialize in its sale, today provided with major sums of USD to the stock exchange's floor at main and additional (day) sessions. Demand of commercial banks and their clients was unable to neutralize this offer without significant falling of USD rate, and as a result National Bank had to uphold the market from below. It is precisely this fact the market's price stability was caused by. Dollar's quotation out of exchange were adequate to stock exchange's ones, and as the result the day closed with a slight decrease. In the opinion of IRBIS analysts dollar's potential towards strengthening by the results of the day equals almost to naught. On Thursday one should expect a stable market at KASE. In case the existing USD offer volume remains tenge may strengthen to dollar by several points. [2002-11-06]