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Kazkommerts Securities

Kazakhstan Weekly News
Money Markets

April 19, 1999

Latest Kazakhstan Weekly News


From 12-16 April the average weighted Tenge/Dollar exchange rate ranged between KZT 113.14-113.78 per one Dollar on the KASE. On Tuesday, when the Tenge increased to KZT 113.20 from KZT 113.78, the traded volume soared to USD 21,845,000. This was the maximum daily traded volume ever registered on the Kazakhstani money market. The National Bank's Chairman called those trades 'historical'. He explained that the traded volumes increased due to the activities of exporters who began to sell their hard currency proceeds on the KASE on 12 April to comply with the recent decree by the National Bank. On Wednesday, 14 April, the Tenge rose further to KZT 113.14. However, it fell to KZT 113.27 per one Dollar the next day and on to KZT 113.55 on Friday, 16 April. The traded volume on Friday totalled USD 3,270,000—the minimum during the entire week.

After a long lull, the KASE reported one transaction for Deutsche Marks on Thursday, 15 April. The volume of the transaction was DM 20,000. (IRBIS)

Currency Rates on the Currency Exchange (at close 16/04/98)

Currency

ForEx market rate

National Bank rate

KZT/USD

113.55

114.00

KZT/DM

63.71

64.56

KZT/EURO

No trades

124.26


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