At KASE trades major banks preferred to buy US dollars

/IRBIS, Aug.31, 99/ - The next trades with the US dollar, Deutsche mark were held at Kazakhstan Stock Exchange (KASE). 21 banks participated in the trades. The trades were opened with the US dollar at 132.20 tenge per unit of the currency. After a short fall of dollar exchange rate at fifth minute of the trades went on at higher strengthening rate of an American currency. At 12th minute of the session dealers began to fix their profits, created due to bullish games with US dollars to increase its rate, and this brought up temporary fall of dollar price down to 132.20 tenge per unit of the currency. In the second half of the session dollar gains its points back while buyers get active. Demand increases. As a result, dollar is traded within 132.30 - 132.35 tenge per unit of the currency by the end of the session, and the trades were closed at 132.31 (demand) / 132.32 (supply). 241 deals were made with US dollars. The weighted average dollar exchange rate has made 132.26 tenge per unit of the currency, and compared to the results of the previous session went up by 0.33 tenge (33 points). The trade volume of the session - $10.945 mln - has decreased relative to that of the latest trades by $5.280 mln. The exchange rate fluctuation during the trade was 0.15%. The trades were held with prevailing demand for dollars. Supply of American currency was maintained mainly due to mandatory sale of 50 percent of exporters' earnings. Based on the trade turnover its volume was lower than on Friday. Probably this is the main reason of fast increase of dollar exchange rate. Today speculative component in dealers' behavior was almost close to zero. Major banks were primarily buying dollars, and selling only in small amounts. Banks of the second tier were mostly inactive as well: most of the dealers were satisfied with minimum amounts of the deals. One hour after closing of the trades at over-the-counter market of Kazakhstan dollar was quoted at 132.25 (demand) / 132.32 (supply) tenge per unit of the currency. Two hours later the quotations did not change. 2 deals were made on Deutsche marks. The weighted average rate has made 71.08 tenge for 1 mark. Compared to the results of the previous trades it went up by 0.46 tenge (46 points). Trade volume - DEM10 thousand. At closing of the session Deutsche mark was offered at 71.15 tenge per unit of the currency. No demand existed. 2 deals were made on Euro. The weighted average rate has made 139.33 tenge for 1 Euro. Compared to last trades it has increased by 0.98 tenge (98 points). The trade volume - EUR30 thousand. At closing of the trades Euro was quoted at 137.51 (demand) / 139.15 (supply) tenge per unit of the currency.