U.S. dollar market of Kazakhstan: day results

/IRBIS, October 24, 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 147.70 0 148.08 0 - - ---------------------- -------- ------- ------ ----- ------ ----- Maximum rate 148.40 0 148.09 -0.06 - - Volume on max. price 5 0 300 -900 0 0 ---------------------- -------- ------- ------ ----- ------ ----- Minimum rate 147.70 0 147.95 -0.13 - - volume on min. price 5 0 200 -100 0 0 ---------------------- -------- ------- ------ ----- ------ ----- Closing rate 148.10 +0.05 148.00 -0.11 - - ---------------------- -------- ------- ------ ----- ------ ----- Weight. aver. rate 148.18 +0.17 148.04 -0.08 - - Volume of the session 15670 -27655 5260 -1155 0 0 Number of deals 114 -5 34 -12 0 0 Number of participants 17 -2 14 -4 0 0 ---------------------- -------- ------- ------ ----- ------ ----- Best ask* 148.10 +0.06 147.97 -0.11 - - Best bid* 148.11 +0.06 148.00 -0.11 - - ---------------------- -------- ------- ------ ----- ------ ----- REUTERS Bid* 148.04 +0.03 147.93 -0.13 147.97 -0.05 REUTERS Ask* 148.14 +0.03 148.03 -0.13 148.02 -0.10 ----------------------------------------------------------------------- * 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): Prise ------------- ------------- ------------ level volume deals volume deals volume deals from to ------ ------ ----- ------ ----- ------- ----- ----- ----- 148.40 5 1 5 1 10:17 10:17 148.20 8250 33 8250 33 10:15 10:28 148.19 150 2 150 2 10:23 10:31 148.18 1005 12 1005 12 10:17 10:32 148.17 800 6 800 6 10:32 10:34 148.16 1730 20 1730 20 10:35 10:49 148.15 1520 20 1520 20 10:35 10:51 148.14 300 3 300 3 10:52 10:52 148.13 900 7 900 7 10:52 10:54 148.10 1005 9 1005 9 10:57 11:00 148.09 300 1 300 1 12:13 12:13 148.08 700 3 700 3 12:08 12:11 148.07 505 8 505 8 12:32 15:19 148.06 1000 6 1000 6 12:35 14:54 148.05 300 1 300 1 14:29 14:29 148.04 350 2 350 2 13:54 15:22 148.03 755 5 755 5 12:35 15:22 148.00 550 5 550 5 15:23 15:30 147.99 600 2 600 2 12:36 13:48 147.95 200 1 200 1 12:36 12:36 147.70 5 1 5 1 10:15 10:15 ------ ------ ----- ------ ----- ------- ----- ----- ----- TOTAL 15670 114 5260 34 20930 148 10:15 15:30 ------------------------------------------------------------------ As was predicted by IRBIS specialists, the tendency of dollar rate increase that was outlined on Thursday did not succeed. IRBIS specialists believe that partial closure of long positions on dollars by leading operators served as a main cause of it. This process began at morning trades at KASE and led gradual market's slipping down. During day trades attempts to capitalize profits continued. However, relatively weak demand disabled some traders to carry out this in full capacity. Traditional USD buyers supported the market from downside. Regardless high repo "overnight" rates, which were caused by sterilizing activity of the National bank at repo sector and primary GS market, it cannot be concluded that market faces tenge deficit. Banks preferred to use idle funds and not in the foreign exchange sector, as speculative potential of a dollar was virtually exhausted. By the day results the market is likelier to move down rather than up. Several factors evidence this. For example, the difference between the volume of unsatisfied demand and supply at trading system of KASE on Friday evening has changed in favor of the latter, though in previous three days the picture was reverse (see Table). Parameters of unsatisfied demand and supply at trading system of KASE by days of the week (the amount of active bids by the time of morning and day trades closed, USD ths. ) ---------------------------------------------------------------------- Indicator Oct 20, 03 Oct 21, 03 Oct 22, 03 Oct 23, 03 Oct 24, 03 ---------- ---------- ---------- ---------- ---------- ---------- Supply 15,460 11,600 6,785 3,450 16,970 Demand 14,130 12,965 7,800 7,770 14,130 ---------- ---------- ---------- ---------- ---------- ---------- Difference -1,330 +1,365 +1,015 +4,320 -2,840 ---------------------------------------------------------------------- The week in over-the-counter closed with falling quotes of dollar against a background of increasing cost of the shortest funds and interest of banks to invest in notes. The resulting disposition of banks at KASE on Friday changed relatively to Thursday in favour of increasing number of net-sellers. It is probable that supply of dollars to be accrued during holidays will influence the rate more strongly than accrued demand. In addition, open interest of banks on long positions unrealized on Friday must not be ignored. To all appearances, a new week will begin with dollar's rate decline and recognizing another attempt of prices consolidation above 148.00 as unsuccessful one. [2003-10-24]