/IRBIS, Aug. 15, 00/ - Today the next morning trades in U.S. dollars, Deutsche marks and euros with TOD payment terms were held at Kazakhstan stock exchange (KASE). 19 banks participated in the trades.

Today the trades in U.S. dollars opened at KZT142.90 per unit. Total of 84 deals were made. Weighted average dollar exchange rate equaled to KZT142.85 (+0.14) per unit. Volume of the session - $4.975 mln (-$2.380 mln). Exchange rate fluctuation during the trade - 0.08%. The trades were closed at KZT142.85/87 per dollar.

Today the trades opened unfairly strong. Five minutes later the compromise was settled at much lower level - KZT142.83 per dollar. This price became a starting point for the market. The sellers got the feel of the demand and made a good use of it in the first half of the trades, achieving 3 point growth in the exchange rate of the dollar.

Further, the parity between the demand and supply settled on the floor, where the dollar was traded within KZT142.85-142.87 per unit interval without any clear trends.

The dealers were equally active throughout the trades. Distinctive feature of the trades was that the traders were working with small deals, implying that they had a good response to current situation and were able to change their tactics if necessary.

Major feature of the trades - decrease in U.S. dollar supply relative to previous session while demand remains the same. It caused the demand to prevail over the supply, and as a result, the exchange rate of the dollar to grow.

The behaviors of the dealers indicated that the banks are able and want to buy the dollars even at a growing price. In the opinions of IRBIS analysts, one of the reasons for them to behave like this is an excessive liquidity of BST in tenge which was caused by a constant growth in deposits and quick shrinkage of internal debt market carried out by the Ministry of finance now. Particularly, big repayment of GS on last Friday was not neutralized by new offerings, since on Monday the issuer of MEKKAM-3 satisfied only fifth of more than two million demand. As a result, the banks had nowhere to use their money.

Demand for cash hard currency of the population, that is traditional for this time of year, has a certain influence now.

Results of the analyses of the last five trades make IRBIS specialists to say that recent growth in the exchange rate of the dollar is speculative in nature. It means that the USD growth trend may reverse at any time.

One hour after closing of the morning session on interbank over-the-counter market of Kazakhstan dollar was quoted at KZT142.85/87 per unit. Two hours later the quotations did not change. At the day session of KASE with TOD payment terms at 12:30PM the dollar was quoted at KZT142.84/86 per unit.

Deutsche mark, morning session, TOD: no deals. Closing quotations were absent.

Euro, morning session, TOD: no deals. Closing demand - KZT129.70 for euro, no offer.