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Kazkommerts Securities

Kazakhstan Weekly News
Money Markets

March 15, 1999

Latest Kazakhstan Weekly News


 

According to the IRBIS news agency, from 9-12 March, the U.S. Dollar was traded in the following range: low—KZT 87.00, high—KZT 87.30 per one Dollar on the Almaty Financial Instrument Exchange (AFINEX). On Friday, 12 March, the Tenge closed at 87.30 per Dollar. The traded volume increased to USD 2,550,000 that day—it was only USD 630,000 the day before. In general, banks decreased their activities on the AFINEX last week. Larger operations were reported on the interbank currency market.

During the week of 9-12 March, a total of 34 transactions amounting to USD 5,490,000 were concluded on the AFINEX. The Tenge devaluation, calculated by the average weighted rate, was 22.75% versus 28.46% on the previous week. No transactions were reported for Deutsche Marks or Euros due to the absence of supply and demand. (IRBIS)

Currency Rates on the Currency Exchange (at close 12/03/98)

Currency

ForEx market rate

National Bank rate

KZT/USD

87.30

86.50

KZT/DM

No trades

48.21

KZT/EURO

No trades

94.29


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