During the week repo rates have been stable awaiting the decision of NBK regarding the base rate. Thus, TONIA kept 13.00% during the whole week bouncing to 12.86% on Wednesday, July 20. TRION also did not move much staying at 13% most of the period with one-time drop to 12.69% on Wednesday. Given the lack of presence of the NBK in the 7-day repo market, TWINA volumes are insignificant, while rates are lower than on the overnight market which indicates the presence of market inefficiency.

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Tengri Partners offers both local and international clients unlimited access to Kazakhstan’s money-market instruments including the repo market of up to 28 days, notes issued by the National Bank of Kazakhstan of up to 6-months and sovereign bonds of up to 1-year.