KASE: significant demand made USD exchange rate to grow throughout the session

/IRBIS, Oct.04, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at KASE. The trades were held with 20 minute technical break, and therefore it ended at 11:50AM Almaty time. 24 banks participated in the trades. Today the trades were opened in the US dollar with a "test" deal at 141.70 tenge per unit. But this price was to high. The consensus was reached after a few minutes within 141.36 (minimum of the day) - 141.50 tenge per dollar price range and remained on the floor for about 10 minutes. During this time the volume of operations made by the dealers reached $12.5 mln. It seems as if all exporters' earnings were sold at this time interval. Further, the market conjuncture has changed, and the sellers using high demand began to raise the market with confidence. As a result, the price of the dollar reached 141.90 tenge per unit by the mid of the session. After a small correction, the dollar continued to climb till the very end of the session. The trades were closed at - 141.90/142.00 tenge per dollar. 235 deals were made in US dollars. Weighted average dollar exchange rate made 141.59 (+0.49). Volume of the session - $21.295 mln (+$6.325 mln). Exchange rate fluctuation during the trade was 0.45%. Today demand for the dollar was very high and could not neutralize the supply, which was the reason for an American currency to grow throughout the trades. Volume of the dollar supply was high as well. The supply came from a number of participants and share of each of them was remarkable in the total volume of supply. Obviously, exporters' earnings had a noticeable impact on exchange rate dynamics. One hour after closing of the trades at over-the-counter market of Kazakhstan dollar was quoted at 141.95/142.05 tenge per unit of the currency. Two hours later - 141.95/142.15. 2 deals were made in Deutsche mark. Weighted average exchange rate of mark - 77.55 (+0.25) tenge per unit. Trade volume - DEM10 (-10) thousand. At closing of the session Deutsche mark was quoted at 77.55/70 tenge per unit of the currency. No deals were made in euro. At closing of the session euro was quoted at 151.80/152.00 tenge per unit of the currency.