 |
Home | Asset Prices | News & Global Markets | Research | Search |
 |
| Kazakhstan Weekly News Fixed Income May 17, 1999 |
Primary Auctions The demand for Dollar-denominated 6-month T-bills plummeted last week. This was largely due to devaluation expectations caused by speculation on the abolition of the compulsory sales of currency proceeds by exporters [The compulsory sales of 50% of currency proceeds were temporarily introduced with the Tenge liberalisation on 5 April]. As a result, the Finance Ministry raised merely USD 0.472m of the planned USD 2m at the latest auction on 10 May. The average yield on these securities rose to 7.62%. Latest issues of 6-month T-bills
The recent auction of Dollar-denominated 3-month T-bills held on 11 May was also unsuccessful. The placed volume, USD 2.978m, fell slightly short of the targeted USD 3m. The result of the week ending 14 May was that the Finance Ministry raised USD 3.4m (KZT 403.3 at the official exchange rate on 11 May 1999), whereas it had planned to raise USD 5.0m; the repaid sum was KZT 107.5m. (IRBIS) Latest issues of 3-month T-bills
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. |