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Kazkommerts Securities

Kazakhstan Weekly News
Money Markets

February 1, 1999

Latest Kazakhstan Weekly News


During the week of 25-29 January, the Tenge/Dollar exchange rate fluctuated in a 85.20-85.10 range on the Almaty Financial Instrument Exchange (AFINEX). At the close of Friday's session, the Tenge rate increased to 85.10 from 85.20 per one Dollar at the beginning of the session. The demand for hard currency was low due to the fact that most banks had reached their upper currency limits. The maximum traded volume, USD 5,430,000, was reported on Monday. On Friday, the amount of dollars sold was only USD 190,000. As in the week before, second-tier banks were selling dollars along with the National Bank.

Currency Rates on the Currency Exchange (at close 29/01/98)

Currency

ForEx market rate

National Bank rate

KZT/USD

85.10

84.90

KZT/DM

No trades

50.57

KZT/EURO

No trades

98.90


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