U.S. dollar market of Kazakhstan: day results

/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. ---------------------------------------------------------------------------- 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) 154.46(+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 ---------------------- ------------- ------------- ----------- ------------- Indicative U.S. dollar quotations in over-the-counter market in information system REUTERS at closing of KASE sessions (disregarding settlement dates) ---------------------------------------------------------------------------- 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) ---------------------------------------------------------------------------- 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]