KASE: market for USD stabilized, high demand neutralized by exporters' earnings

/IRBIS, Sep.14, 99/ - The next trades with US dollar, Deutsche mark and Euro were held at KASE. 25 banks participated in the trades. Today the trades were opened with the US dollar at 135.53 tenge per unit of the currency. At 5th deal the dollar exchange rate reached 135.63 already, then it began to fall quickly and hit the lowest level for trades today - 135.47 tenge per unit of the currency. On this level the dollar exchange rate bounced back due to increasing demand from the buyers and at 18th minute price of an American currency stooped at 135.54 tenge per unit of the currency. After a slight correction of the dollar exchange rate downward, the dealers could find price corridor between 135.52-53 tenge per dollar. Final phase of the trade went on in this corridor. At closing of the session dollar quotations against tenge made 135.52/53. 332 deals were made with US dollars. The weighted average dollar exchange rate has made 135.52 (+0.06). Trade volume of the session - $15.555 mln (+$2.870 mln). Exchange rate fluctuation during the trade was 0.12%. One hour after closing of the trades at over-the-counter market of Kazakhstan dollar was quoted at 135.47/63 tenge per unit of the currency. Two hours later - 135.50/61. Demand from the banks of the second tier did not diminish today, which is indicated by trade volumes increasing two days in a row. Despite persistent demand of the banks of the second tier, the market stabilized, which is confirmed both by the dealers and by objective market indicators. With Deutsche mark - 5 deals. Weighted average exchange rate of mark made 72.38 tenge per unit of the currency. Compared to previous successful trades the mark exchange rate has decreased by 41 points (-0.41). Trade volume - DEM45 thousand. At closing of the session Deutsche mark was quoted at 72.00/36 tenge per unit of the currency. With euro - 1 deal at 142.40 (-0.90) tenge for euro. Trade volume - EUR10 thousand (-5 thousand). At closing of the session euro was quoted at 141.00/50 tenge per unit of the currency.