Baku, Azerbaijan, Jan. 15
By Ali Mustafayev - Trend:
The KazPrime indicator's value increased by 8 basis points and amounted to 11.25 percent per annum, according to the fixing results for Jan. 11, Kazakh Stock Exchange said in a message.
The KazPrime indicator reflects the average value rates of money offering in the Kazakh interbank deposit market (the rate at which a bank would like to place money in another bank for a deposit) for a period of three months, with a calculated base of actual/360 (a method where the annual interest rate is divided by 360 to get the daily interest rate and then multiplied by the days in the month).
Calculation of KazPrime is done by KASE daily up to 12:00 of Almaty time at quotations submitted to the trade system of KASE by the parties to the agreement on formation of the KazPrime indicator. The minimum volume of the quotation is 150 million tenge ($450,450).
To date, KazPrime JSC, Bank CenterCredit JSC, ATFBank JSC, Eurasian Bank JSC, Halyk Savings Bank of Kazakhstan JSC are the parties to the agreement on formation of the KazPrime indicator.