At KASE a significant supply volume of dollars made its exchange rate to lower

/IRBIS, Oct.11, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE). 22 banks participated in the trades. Today the trades were opened in the US dollar at 141.91 tenge per unit. But on 7th deal the dollar exchange rate has already went down to the lowest mark of the day - 141.72, and in another minute dollar regained its positions reaching 141.84 tenge per unit. Further trades went with gradual decrease of the price of an American currency with short upward corrections. Beginning the middle of the session the trades went in more balanced market. First, the balance between demand and supply was found at 141.77 tenge per dollar, then, at 141.76, and only on final phase of the trades the dealers found a price compromise within 141.73-141.74 tenge per unit. The trades were closed at - 141.73/75 tenge per dollar. 288 deals were made in US dollars. Weighted average dollar exchange rate made 141.77 (-0.31). Volume of the session - $13.775 mln (+$3.290 mln). Exchange rate fluctuation during the trade did not exceed 0.13%. Demand for dollars is still great. Six out of 22 trade participants who were only buying dollars may prove it. However, supply of dollars today obviously exceeded demand. More likely source of the currency on the trade floor was exporters' earnings. But it is possible that the banks were selling their own resources, since cost of short money had grown again, and the deficit of tenge is felt on the market. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 141.80/90 tenge per unit, two hours later - 141.78/84. 2 deals were made in Deutsche mark. Weighted average exchange rate of the mark - 77.45 (-0.50) tenge per unit. Trade volume - DEM10 (-10) thousand. At closing of the session Deutsche mark was quoted at 77.15/35 tenge per unit of the currency. No deals were made in euro. At closing of the session demand and supply were absent for euro.