At KASE exporters' earnings have appeared, but demand from the banks of the second tier does not decrease

/IRBIS, Sep.20, 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. After reaching 136.10 almost at the very beginning of the trades, the dollar exchange rate slipped down to 136.08 tenge per unit of the currency under a growing influence of supply. Further, till the mid of the session the trades went on within 136.08-136.09 price range. In the second half of the trades a new surge of dollar supply brought up further decrease of its price with higher paces. At 34th minute of the session it reached 136.05 tenge. At this level demand and supply equalized each other, and it went on almost till the end of the session. The trades were closed at - 136.05/06 152 deals were made with US dollars. Weighted average dollar exchange rate made 136.08 (+0.19). Volume of the session - $6.260 mln (-$7.770 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 136.07/20 tenge per unit of the currency. Two hours later - 136.00/10. Market conjuncture has changed drastically today. Noticeable volume of exporters' earnings have emerged on the trade floor, which by IRBIS analysts opinion, did existed three previous trades. Quite great supply of dollars evoked their sell by other traders who do not deal with exporters. As a result, supply of dollars certainly exceeded demand for them. However, demand was also high on the trades. Seven out of 25 participants dealt only with the purchase of American currency. It does not mean that the banks began to fix profits on previously opened long positions. 2 deals were made with Deutsche mark. Weighted average exchange rate - 72.56 (+0.30) tenge per unit of the currency. Trade volume - DEM35 thousand. At closing of the session Deutsche mark was quoted at 72.43/60 tenge per unit of the currency. 4 deals were made with euro. Weighted average exchange rate - 141.50 (+0.70) tenge for euro. Trade volume - EUR35 thousand (-65 thousand). At closing of the session euro was quoted at 141.50/60 tenge per unit of the currency.