Situation at KASE did not change: demand for the dollar considerably exceeds exporters supply

/IRBIS, Sep.16, 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 135.73 tenge per unit of the currency. The dollar plummeted down to the lowest level of the day - 135.67 tenge per unit of the currency as it soared to 135.75 at the very beginning of the session. At this level the sellers could boost exchange rate of an American currency a little using the demand, and then the parity between demand and supply were achieved at the trade floor. The second phase of the session went on within a price corridor of 135.69- 135.70 tenge per dollar and was characterized by an equilibrium market. All demand was satisfied in this price range. Volume of deals made at 135.69- 135.70 tenge per dollar totaled $13.9 mln. Only at closing of the session the dollar exchange rate was corrected downward with fast backup to previous level. The session was closed at 135.70/71. Only 180 deals were made with US dollars. The weighted average dollar exchange rate made 135.70 (+0.01). Trade volume of the session - $15.275 mln (-$780 mln). Exchange rate fluctuation during the trade was 0.06%. One hour after closing of the trades at over-the-counter market of Kazakhstan dollar was quoted at 135.73/83 tenge per unit of the currency. Market conjuncture did not differ from that of yesterday. At the second part of the session high demand for dollar was completely neutralized by its supply, whereas exporters' earnings did not have much effect on exchange rate dynamics. With Deutsche mark - 5 deals. Weighted average exchange rate - 72.26 (+0.31) tenge per unit of the currency. Trade volume - DEM25 thousand (-60 thousand). At closing of the session Deutsche mark was quoted at 72.25/34 tenge per unit of the currency. With euro - 3 deals. Weighted average rate - 140.71 (-0.29) tenge for euro. Trade volume - EUR80 thousand (+70 thousand). At closing of the session euro was quoted at 140.65/141.40 tenge per unit of the currency.