Deals totaling $203,291,000 were made in foreign currency at KASE in July (Statistical Review)

\IRBIS, 03.08.99\ - 4530 deals were made on trades with foreign currency at KASE in July of 1999, namely, on USD - 4454 deals, on Deutsche mark - 55 deals, and on Euro - 21 deals. Total volume of operations amounted to 26926,4 mln. tenge or equivalent of US $ 203 291,4 thousand. On US dollars the volume of the operations reached $202,145 thousand (26774.4 mln tenge) with the average volume of the trade session $9,188 thousand. Corresponding numbers for the previous month: $206,825 thousand (27 276,2 mln tenge), $9,401 thousand. For July of 1998 these numbers are: $89 407,8 (6 918,2 mln tenge), $3 887,3 thousand. Such a wide discrepancy of these numbers from that for the last year is due to the mandatory sale of exporters' foreign exchange earnings at KASE introduced on April 05,1999. The volume of trade with USD reached in July of 1999 is the highest since the introduction of tenge. A little less - $181,615 mln. was reached in July of 1995, with the same mandatory sale of 30% of foreign exchange reserves by the exporters. In July of 1999 the rate of devaluation for tenge, calculated at weighted average market rate to USD (30.06.99 = 132,3098 - 31.07.99 = 131,9078), is assessed by the trend of negative 3.57% per year (tenge revalued). The same number for the previous month was positive 30.9% per year. The weighted average exchange rate of USD for tenge, calculated for all deals in July, is - 132.45 tenge for a dollar. For the month of June - 131.88 tenge per US dollar. For the period from the beginning of 1999 through 31.07.99 this number was 115.63 tenge for one US dollar. Other deals were also made with Deutsche marks and Euro in the previous month. On Deutsche marks the volume of operations reached DM 875 thousand (61.2 mln. tenge) with the average volume of the trade session DM 39.8 thousand. 20 deals out of 22 deals were fruitful. Corresponding numbers for the previous month are: DM 1,205 thousand (84.4 mln.tenge), DM 401,770 thousand, 21 out of 22 sessions. The same for July of 1998: DM 5 thousand ( 215 thousand tenge), DM 227.2, 1 out of 22 sessions. The trade volume with DM of the previous month is not the highest since the introduction of tenge. Significantly high volume - DM 6,250 mln. was reached in 1995. In July of 1999 the devaluation rate of tenge with respect to DM, calculated at weighted average market rate (30.06.99 = 70,3000 - 31.07.99 = 72,4000), is assessed by the trend of 32.1% per year. The same number for the previous month was 17.5% per year. The weighted average exchange rate of DM for tenge, calculated for all deals in July was 69.96 tenge for a mark. For the period from the beginning of 1999 through 31.07.99 this number was 68.84, at the end of the previous month - 68.38 tenge for one mark. On Euro the volume of stock market operations reached 665 thousand units of foreign currency ( 90.7 mln. tenge). 11 sessions out of 22 sessions were fruitful. The average volume of a session - 30.22 thousand Euros. Still, the market for this currency cannot be considered liquid. In July of 1999 the devaluation rate of tenge with respect to Euro, calculated at weighted average market rate года года (30.06.99 = 136,8000 - 31.07.99 = 140,3000), is assessed by the trend of 30.0% per year. The same number for the previous month was 14.4% per year. The weighted average exchange rate of Euro for tenge, calculated for all deals in July was 136.44 tenge for a Euro. For the period from the beginning of 1999 through 31.07.99 this number was 132.32, though its worth mentioning that trades with this currency on a relatively regular basis at KASE have begun since April 20, 1999.