/IRBIS, November 7, 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)         154.46(+0.01)    154.44( 0)           -             -
Volume of session (m)  4.045(-5.435) 2.965(-5.365)       0( 0)             0
Bid                    154.47(+0.03)    154.43( 0)  154.42( 0)             -
Offer                  154.48(+0.03)    154.44( 0)  154.50( -)             -
Number of participants        14(-2)        11(-4)       2(-3)             0
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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                    154.45(+0.04) 154.42(+0.01)             154.40(-0.04)
Offer                  154.50(+0.04) 154.47(+0.01)             154.45(-0.05)
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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.

The past day at Kazakhstan US dollar market again proved very low potential of USD for strengthening relative to tenge. This became more relevant after statements of the National Bank's head, which were made today at the press-conference concerning the results of October. Despite decrease of USD offer volume at KASE relative to Wednesday 2.5 times less, dollar sellers failed to raise its rate. Only during last minutes of the morning trade the market rose due to local predominance of demand over offer. But at day trades all sellers' attempts came to naught. Decrease of USD offer volume was entirely compensated by absence of supporting of the market from below by the National Bank that provided with extreme price stability during the whole day.

Taking into account estimation of the market by the National Bank, and also current conjuncture, it is more probable that in the nearest future there will be gradual tenge strengthening towards dollar due to inflow of exporters' currency proceeds and due to forthcoming budget payments by the results of the month.

[2002-11-07]