January 25, 1999
From January 18-22, the lowest rate of the U.S. Dollar was KZT 84.65 on the Almaty Financial Instrument Exchange (AFINEX). The highest rate, KZT 84.95 per one USD, was reported on Friday at the end of the session. The Tenge, therefore, fell by 30 points over the week. The daily traded volumes fluctuated around USD 8m with the exception of Monday, 18 January, when there was a national holiday in the USA. That day, the traded volume reached only USD 2,820,000. Last week's sessions were remarkable in that second-tier banks were not only buying but also selling Dollars. The National Bank used to be the sole seller of Dollars on the AFINEX.
Currency Rates on the Currency Exchange (at close 22/01/98)
| Currency | ForEx market rate |
National Bank rate |
| KZT/USD | 84.95 |
84.50 |
| KZT/DM | No trades |
50.55 |
| KZT/EURO | No trades |
98.87 |
Kazakhstan Weekly News is also available free of charge on E-mail. To subscribe via E-mail, please contact us on Lydia@kazks.kz or Madina@kazks.kz.
| Home | Asset Pricing | News & Analysis | Research | Related Sites | Table of Contents | Search We welcome your comments, opinions,
and submissions to EMC. Copyright ©
1996-2000, The Emerging
Markets Companion, and/or its licensors. All Rights Reserved. The
information herein was obtained from sources which The Emerging Markets Companion, Inc.
and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the
information, nor any opinion expressed, constitutes a solicitation of the purchase or sale
of any securities or commodities. Please
read our full disclaimer. |