U.S. dollar market of Kazakhstan: day results

/IRBIS, October 8, 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 148.00 0 148.08 -0.30 - - ---------------------- -------- -------- ------ ----- ------ ----- Maximum rate 148.60 +0.09 148.08 -0.32 - - Volume on max. price 5 -5 300 -300 0 0 ---------------------- -------- -------- ------ ----- ------ ----- Minimum rate 148.00 0 147.88 -0.43 - - volume on min. price 5 0 200 -200 0 0 ---------------------- -------- -------- ------ ----- ------ ----- Closing rate 148.16 -0.26 147.88 -0.51 - - ---------------------- -------- -------- ------ ----- ------ ----- Weight. aver. rate 148.21 -0.25 147.95 -0.43 - - Volume of the session 57810 +45755 29900 -3165 0 0 Number of deals 179 +41 48 -38 0 0 Number of participants 15 -4 16 +3 0 0 ---------------------- -------- -------- ------ ----- ------ ----- Best ask* 148.15 -0.26 147.82 -0.57 - - Best bid* 148.16 -0.26 147.90 -0.50 - - ---------------------- -------- -------- ------ ----- ------ ----- REUTERS Bid* 148.07 -0.28 147.80 -0.54 147.74 -0.59 REUTERS Ask* 148.17 -0.28 147.90 -0.55 147.84 -0.56 ------------------------------------------------------------------ * 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 ------ ------ ----- ------ ----- ------ ----- ----- ----- 148.60 5 1 5 1 10:15 10:15 148.25 225 7 225 7 10:23 10:26 148.24 200 2 200 2 10:37 10:37 148.23 21480 97 21480 97 10:27 10:38 148.22 220 4 220 4 10:39 10:39 148.21 600 3 600 3 10:40 10:40 148.20 31975 37 31975 37 10:23 10:43 148.19 50 1 50 1 10:47 10:47 148.18 1700 13 1700 13 10:47 10:53 148.17 1050 9 1050 9 10:54 10:59 148.16 300 4 300 4 10:59 11:00 148.08 300 1 300 1 14:03 14:03 148.06 100 1 100 1 14:04 14:04 148.05 865 3 865 3 14:04 14:04 148.04 800 5 800 5 14:04 14:18 148.01 300 1 300 1 14:19 14:19 148.00 5 1 200 1 205 2 10:15 14:19 147.98 300 1 300 1 14:20 14:20 147.96 365 2 365 2 14:23 14:50 147.95 21000 20 21000 20 14:21 14:49 147.94 100 1 100 1 15:01 15:01 147.92 1720 2 1720 2 14:48 15:27 147.91 50 1 50 1 15:03 15:03 147.90 3600 7 3600 7 14:34 15:26 147.88 200 2 200 2 15:29 15:29 ------ ------ ----- ------ ----- ------ ----- ----- ----- TOTAL 57810 179 29900 48 87710 227 10:15 15:29 --------------------------------------------------------- The disposition participants of the US dollar trades at KASE by results of all USD_TOD sessions ---------------------------------------------------------------- Index Number Trend --------------------------------------------------- ------ ----- Number of banks-USD buyers 17 +1 Number of banks-USD buyers on day net-position 11 -3 Number of banks -USD sellers 12 +1 Number of banks-USD sellers on day net-position 8 +2 Number of banks that quitted with zero net position 1 +1 Number of banks, traders of which concluded deals 20 0 ---------------------------------------------------------------- The day at Kazakhstan market of US dollar could be characterized as critical turning point. For more than a half of a month the market was looking upwards. Relatively small volume of realization of exporters revenues at KASE in September served as a reason to assume that enterprises kept their dollars in belief that exchange rate of USD to tenge would be going up till the end of a year. Taking into account high oil prices, another explanation was difficult to find. Apparently, those guesses are destroyed today. In IRBIS specialists' opinion, the statement of the head of the National Bank Grigoryi Marchenko, who did not exclude the possibility of tenge appreciation in October by relying on world oil prices, stimulated the rapid increase of dollar supply. The empirical evidences say that market in Kazakhstan keenly, and sometimes even exaggeratedly, responds to signals of a similar nature. Moreover, traders obtained new information. Today, most of the news was concerned with situation around and inside the oil sector. News were carried a positive character for Kazakhstan, allowed to predicts further export increase, and, consequently, inflow of additional export revenues into domestic market. Information about the finishing of reconstruction of NEKA port in Iran, export of first Kazakhstan oil into China by Trade house KazMynaiGas and the OPEC Fund's director replacement intensified the expectations. It looks like high volume f export revenue sales at KASE today was caused by exporters striving for making good use of current dollar price in short-term period, regardless their need in tenge. Judging on costs of the shortest funds, which still remain low, those needs are insignificant. The outcome of interaction of mentioned factors was a definite predominance of dollar supply over demand during the whole day, very high volume of exchange trades that grew two times relative to Tuesday, and rapid fall of an American currency, which confidently consolidated below 148.00 psychological level. Almost all major operators of the dollar market joint the group of net-sellers of USD. In over-the-counter market the day closed with rare daily fall of quotes. By day results further tenge strengthening as well as market turn towards opening of short positions, is definitely predicted. [2003-10-08]