In September of 2003 volume of transactions in foreign currency at KASE reached the equivalent of $643.4 m and increased by 12.0%

/IRBIS, October 01, 03/ - In September 1 of 2003 volume of transactions in foreign currency at Kazakhstan Stock Exchange (KASE) reached the equivalent of USD643,371.9 th. (KZT95,202.6 m) and increased relative to August of 2003 by USD69,136.9 th. (KZT10,929.8 m) or by 12.04% (13.0%). The volume of turnover achieved is the highest within given market sector of KASE for the whole history of the exchange's existence. Comparable, but lower volume transactions in foreign currency - $607.6 mn - was witnessed at KASE in February of the current year. IRBIS specialists tend to think that the main factor of the raise of the volume of transactions with dollar is not a large dollar supply at domestic market as it was in February, but high volatility of USD rate and consequent corresponding speculative potential of the American currency. This very potential resulted in, from the one hand, energization of second-tier banks at currency floor of KASE, and from the other, made the central bank to undertake adequate measures for smoothing too drastic hesitations of the rate. Relative to September of the last year the volume of exchange currency operations increased by $405,422.9 th (KZT58,431.8 mn) or 2.7 times (2.6 times). Total of 3,035 deals (2,735) were made within the month (here and further comparable figures of previous month are given in parentheses), including: in U.S. dollars on TOD terms - 3,032 (2,733), on TOM terms - 1 (2), in euro - 2 (0), in Russian ruble - 0 (0). The whole volume of conducted deals ($642,865.0 th.) fell at the stake of US dollar in the total turnover of the exchange's currency market in September. Volume of transactions in U.S. dollar reached $642,865 th. ($574,235 th.) to the amount of KZT95,127.7 m (84,272.8 m). For comparison, total volume of USD deals in September of 2002 at KASE amounted to $237,690 th. to the amount of KZT36,730.9 m. Tenge devaluation rate against dollar, calculated at weighted average rate of the main session of the Exchange, is estimated in September of 2003 (August 31, 03 = KZT147.47 - September 30, 03 = KZT148.97) by the trend positive 12.38% APR. Last month average devaluation rate of tenge to dollar was positive 5.70% APR. Weighted average rate of U.S. dollar against tenge, calculated by the deals of the main session in September - KZT148.00 per unit. For August of 2003 - KZT146.72 per dollar. Volume of over-the-counter deals in U.S. dollars between the operators- residents of Kazakhstan since September 1 of 2003 till September 23 of 2003 (latest data is currently not available) reached $444,293.0 th. Volume of deals of the whole interbank over-the-counter market during this period: purchase - $457,426.0 th., sale - $464,954.0 th. In euro transactions the volume of transactions reached EUR450 th (0) for KZT74.9 mn. In August 2003, there were no deals. Volume of over-the-counter transactions on euro between operators- residents of Kazakhstan according to the National Bank data since September 1 of 2003 till September 23 of 2003 (latest data is currently unavailable) was EUR3,201.0 th. Volume of deals of entire over-the counter interbank market in this period: purchase - 3,463.0 th., sale - 3,601.0 th. In Russian rouble transactions were not made at KASE in September. Volume of over-the-counter transactions on Russian rouble between operators-residents of Kazakhstan according to the National Bank's data since September 1 of 2003 till September 23 of 2003 (latest data is currently unavailable) was RUR38,132.0 th. Volume of deals of entire over-the counter interbank market (taking into account non-residents) in this period: purchase - RUR120,359.0 th., sale - RUR49,895.0 th. [2003-10-01]