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Kazkommerts Securities

Kazakhstan Weekly News
Money Markets

January 25, 1999

Latest Kazakhstan Weekly News


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


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