At KASE USD exchange rate was constantly with a significant volume of supply

/IRBIS, Sep.30, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at KASE. 23 banks participated in the trades. Today the trades were opened in the US dollar at 140.38 tenge per unit of the currency. After a little rise up to 140.40 the dollar exchange rate began to lower while supply was growing. Due to tenacious buyers it has reached 140.03 by the mid of the session. At this level the sellers corrected the situation a little bit and have boosted the market up to 140.13 tenge by the 34th minute. But supply obviously exceeded demand today. By the closing of the session price of an American currency continued to lower with surging trade volume. Significant volume of supply of dollars did not let the trend to reverse, and by the end of the session speed at which an American currency was weakening increased noticeably. The trades were closed at - 139.86/140.03 203 deals were made in US dollars. Weighted average dollar exchange rate made 140.11 (-0.41). Volume of the session - $9.360 mln (-$1.365 mln). Exchange rate fluctuation during the trade was 0.36%. Volume of the demand for an American currency was great today. Seven out of 23 participants were solely buying dollars. Practically all the demand has being satisfied by several banks, which had the most part of sell offers. Origins of selling dollars can not be estimated for sure. Probably, both exporters' earnings and own resources of the banks were on the trade floor. However, taking into account the ending of the quarter and the latest "currency fever" it can be presumed the banks were selling dollars to maintain their liquidity and to make budget payments by orders of their clients. Decrease of an American currency exchange rate throughout the whole session was due to tenacious buyers. Under the influence of the latest positive news, and current situation of major operators' correspondent accounts dealers could not be forced to buy dollars at increasing prices. One hour after closing of the trades at over-the-counter market of Kazakhstan dollar was quoted at 139.95/140.05 tenge per unit of the currency. Two hours later - 139.90/05. 7 deals were made in Deutsche mark. Weighted average exchange rate of mark - 76.40 (+0.70) tenge per unit. Trade volume - DEM125 (+45) thousand. At closing of the session demand for Deutsche mark made 76.48 tenge per unit of the currency. 5 deals were made in euro. Weighted average exchange rate of euro - 148.63 (+1.63) tenge per unit. Trade volume - EUR265 (+260) thousand. At closing of the session euro was quoted at 148.97/149.30 tenge per unit of the currency.