U.S. dollar market of Kazakhstan: day results

/IRBIS, September 17, 03/ - Following is the table of major indicators of Kazakhstan market for U.S. dollar (more than 99% of country's all currency market) according to results of the day. Values are given in tenge per dollar, volume - th. USD, trends are shown relative to corresponding figures of previous day. Results of trades at Kazakhstan stock exchange ----------------------------------------------------------------------- Instrument USD TOD USD TOD USD TOM KASE's session Main Additional Additional (morning) (day) (evening) Time 10:15 - 11:00 ALT 11:30-15:30 14:00-18:00 ----------------- ------------- ------------- Indicator value trend value trend value trend ---------------------- -------- ------- ------ ----- ------ ----- Opening rate 147.00 -0.40 147.56 -0.02 - - ---------------------- -------- ------- ------ ----- ------ ----- Maximum rate 147.80 +0.19 147.56 -0.05 - - Volume on max. price 5 -95 2500 2055 0 0 ---------------------- -------- ------- ------ ----- ------ ----- Minimum rate 147.00 -0.40 147.52 +0.02 - - volume on min. price 5 0 300 +250 0 0 ---------------------- -------- ------- ------ ----- ------ ----- Closing rate 147.61 0 147.55 -0.06 - - ---------------------- -------- ------- ------ ----- ------ ----- Weight. aver. rate 147.55 +0.10 147.55 -0.02 - - Volume of the session 7275 -4425 6230 -50 0 0 Number of deals 47 -29 31 -15 0 0 Number of participants 16 0 13 -2 0 0 ---------------------- -------- ------- ------ ----- ------ ----- Best ask* 147.58 -0.03 147.53 -0.05 - - Best bid* 147.62 -0.02 147.55 -0.06 - - ---------------------- -------- ------- ------ ----- ------ ----- REUTERS Bid* 147.55 +0.05 147.50 -0.11 147.48 -0.05 REUTERS Ask* 147.65 +0.08 147.57 -0.12 147.56 -0.05 ----------------------------------------------------------------------- * at closing of the session at KASE. out of stock exchange - by the data of REUTERS Table of price levels of trade in US dollar at KASE on TOD terms ------------------------------------------------------------------ TOTAL BY RESULTS OF THE DAY: Morning Day ---------------------------- session: session: time (ALT): Price ------------- ------------- ------------ level volume deals volume deals volume deals from to ------ ------ ----- ------ ----- ------- ----- ----- ----- 147.80 5 1 5 1 10:15 10:15 147.61 705 6 705 6 10:53 10:57 147.60 10 1 10 1 10:53 10:53 147.59 520 3 520 3 10:53 10:53 147.58 110 2 110 2 10:51 10:51 147.57 1300 2 1300 2 10:49 10:49 147.56 320 2 2500 11 2820 13 10:49 15:20 147.55 1200 6 1130 9 2330 15 10:28 15:29 147.54 150 2 1800 7 1950 9 10:43 15:29 147.53 550 4 500 3 1050 7 10:38 15:20 147.52 500 1 300 1 800 2 10:41 15:20 147.51 100 1 100 1 10:28 10:28 147.50 1700 14 1700 14 10:23 10:40 147.49 100 1 100 1 10:23 10:23 147.00 5 1 5 1 10:15 10:15 ------ ------ ----- ------ ----- ------- ----- ----- ----- TOTAL 7275 47 6230 31 13505 78 10:15 15:29 ------------------------------------------------------------------ The Kazakhstani market of U.S. dollar is still being influenced limited short0term liquidity of the banking sector, caused by the last "taxing week" of September. The cost of the shortest money remains at 6%APR higher on average, though repo "overnight" today were opened at much lower rates than yesterday. The demand for MEOKAM notably declined, another issue of which the Ministry of Finance was floating today. The National Bank for a second day does not float notes and actually does not plan to do it on Thursday. It is of course cannot be concluded that there is a deficit of tenge, but banks' passivity is being felt for the second day. Nevertheless, banks are reluctant to sell USD with the purpose of supporting tenge liquidity, preferring to reduce the volume of operations with American currency to minimal level and limit themselves to the orders of clients. The volume of USD trading is continuously falling with simultaneous reduction of number of deals and participants. The market is developing towards horizontal and flank direction approximately at the same price levels, however the amplitude of dollar's hesitations was significantly narrowed today, and highlighted the main price channel of 147.52-147.56 during the second half of the day. Traders are waiting for the time being and don't demonstrate their willingness to actively influence the market so that to move it out from shaky equilibrium. By the day results, there is no the impression of general expectation about market's going up, though objectively, market is still opened for either directions approximately with equal chances. In IRBIS specialists' opinion, the market development towards flank trend may remain till the end of the current week, after what dollar will tend to appreciate. [2003-09-17]