At KASE banks of the second tier were demanding dollars

/IRBIS, 10.08.99/ - The next trades with the US dollar, Deutsche mark were held at KASE. 22 banks participated in trades. The trades were opened with the US dollar at the level of 131.95 tenge per unit of the currency. With such a high price only one deal was made for $100 thousand, and after this the rate went down to 131.56. It is possible that this high price of the first deal was caused by the events in Russia and by closing parameters of previous day's over-the-counter market. Quite a large amount of the deal excludes the possibility of dealer's error. During the next 7 minutes dollar was traded within the price interval of 131.56-131.57 tenge per unit of the currency, and then this interval shifted to 131.57-131.58. This interval was maintained till the end of the session, and most of the operations were conducted in this interval. The session was closed at 131.57 (demand) / 131.58 (supply). 173 deals were made on US dollars. The weighted average dollar exchange rate has made 131.57 tenge per unit of the currency, and compared to the results of the previous session went down by 0.06 tenge (6 points). The trade volume of the session - $13.120 mln. - has increased relative to that of the latest trades by $2.335 thousand. The exchange rate fluctuation during the trade was 0.30%. One hour after closing of the trades at over-the-counter market dollar was quoted at 131.55 (demand) / 131.63 (supply) tenge per unit of the currency; two hours later - 131.57 / 131.66. Analysts at IRBIS point out that market conjuncture changed significantly. This could be caused by Russian events, or by the news of unsuccessful negotiations between IMF and Kazakhstan on Monday. Anyway, banks of the second tier became more active. Demand on US dollar was created on the trade floor, which caused dollar to strengthen. 5 deals totaling DEM 260 thousand were made on Deutsche marks. This amount is higher compared with that of the previous trades by DEM 110 thousand. The weighted average rate has made 72.19 tenge for 1 mark. Compared to the results of the previous session mark's exchange rate has decreased by 0.01 tenge (1 point). At closing of the session Deutsche mark was quoted at the level of 72.00 (demand) / 72.18 (supply) tenge per unit of the currency. No deals were made on Euro. By closing of the trades it was offered at 140.80 per unit of the currency. No demand existed.