Today at KASE daring attempt of the banks of the second tier to boost dollar exchange rate was partially successful

/IRBIS, Sept.02, 99/ - The next trades with US dollar, Deutsche mark and Euro were held at KASE. 24 banks participated in the trades. The trades were opened with the US dollar at 131.62 tenge per unit of the currency and held with a few technical halts of various lengths, therefore the session was extended till 11:24AM Almaty time. Under the influence of significant sale volumes dollar could not stay at 132.32, level reached at the third minute of trades, and by the 27th minute went down to 132.27 tenge per unit of the currency. Meantime, buyers got so active that boosted the dollar price up to the opening level. At this level dealers apparently began to fix their profits, which weakened the dollar against tenge. Further trades went on in a very narrow price interval of 132.28 - 132.29 tenge per dollar. only at closing of the session dealers could find another, though as narrow as it was before, interval 132.29 - 132.30. The session was closed at 132.29/30. 289 deals were made with US dollars. The weighted average dollar exchange rate has made 132.29 (+0.17). Trade volume of the session - $23.325 mln (-$1.975 mln). Exchange rate fluctuation during the trade was 0.04%. One hour after closing of the trades at over-the-counter market of Kazakhstan dollar was quoted at 132.27/37 tenge per unit of the currency. Two hours later - 132.26/37 Today exchange market conjuncture was formed under the influence of remarkable volumes of American currency supply, and not the least demand for it. However, supply exceeded demand just a bit. Four major participants of the market , who are also the biggest banks, accounted for most of dollar turnover. Some participants left the trade floor either with zero net positions or with more dollars sold than bought. Probably, it was these sales of major banks that restrained the growth of American currency. Should be noticed dealers expressed strong desire to boost the dollar exchange rate despite large volumes of mandatory currency sale. Seemingly, price of American currency reached the level high enough for current economic and political situations. Hence, making a deal above 132.32 was hardly possible today: all demand was met by sellers between 132.29 - 132.32 tenge per dollar no matter what the conjuncture was. Also, there were a few seller. 3 deals were made with Deutsche marks. The weighted average rate has made 71.70 tenge for 1 mark (+0.17). Trade volume - DEM30 thousand. At closing of the session Deutsche mark was asked at 71.55 tenge per unit of the currency. No offer was made. No deals were made with Euro. Closing quotations - 139.50/140.36.