U.S. dollar market of Kazakhstan: day results

/IRBIS, April 4, 03/ - 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) 152.35(+0.20) 152.30( 0) - - Volume of session (m) 3.365(-2.865) 8.080(-7.360) 0 0 Bid 152.31(+0.14) 152.25(-0.04) - - Offer 152.35(+0.17) 152.30( 0) - - Number of participants 12(-4) 16(-3) 0 0 ----------------------- ------------- ------------- ----------- ------------- Indicative U.S. dollar quotations in over-the-counter market in information system of REUTERS at closing of KASE sessions (disregarding settlement dates) system of REUTERS at closing of KASE sessions (disregarding settlement dates) ----------------------------------------------------------------------------- Bid 152.22(+0.09) 152.27(+0.06) 152.19(-0.03) Offer 152.36(+0.16) 152.33(+0.02) 152.27( 0) ----------------------------------------------------------------------------- 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. Today Kazakhstan market of US dollar a bit changed its traditions, which had been formed during latest time. Despite the significant growth of weighted average dollar's rate at the KASE's morning session, USD sellers managed to keep the market almost on the achieved level at the day session as well. Though during it the rate used to be on 152.15. But due to rather high demand it was possible to bring the market back to 152.34 and close it on 152.30. Over the counter market closed lower - on previous day's level. It's notable that objective demand for USD from outside of importers more and more distinctly appears at the stock exchange and plays greater role in latest time. At the same time the group of net-sellers acquires more traditional appearance. Events of the KASE's day trades show that exporters' currency proceeds appear at the stock exchange. Banks' liquidity at the market of short money seems to be excessive that is proved by low rates "overnight" and high demand for the National Bank's notes, which were floated today. Despite it, banks' free money is used at the currency market in limited volumes. Speculative demand has significantly decreased. Results of technical analysis, according to results of the day and the week, have not brought changes into the formed support and resistance levels giving dollar's prices the next opportunity to test the market's tops. However IRBIS analysts expect increase of dollar offer and falling of short-term liquidity of STB the next week in accordance with tax payments that, most probably, will cause the market's turning downward. [2003-04-04]