At KASE USD exchange rate went down under the influence of great supply of dollars

/IRBIS, Oct.13, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE). 24 banks participated in the trades. Today the trades were opened in the US dollar at 141.80 tenge per dollar. Within the first minute the dollar exchange rate plummeted to 141.63 tenge per unit. Sellers were able to raise the price of an American currency from this level a little bit up to 141.66, and the parity of demand and supply have settled on the market, which remained till the mid of the session. Starting from the 20th minute of the trades demand began to weaken on the trade floor. Under the influence of huge supply of an American currency its price began to lower and has reached 141.60 tenge per unit by the 28th minute. At this level the market was balanced again for about ten minutes. By the end of the trades demand has started to vanish again. Sellers had to agree on even 141.50 tenge per dollar: last deals of the session were made around this level, and the session was closed at - 141.48/50 tenge per dollar. 226 deals were made in US dollars. Weighted average dollar exchange rate made 141.63 (-0.34). Volume of the session - $16.990 mln (+$8.690 mln). Exchange rate fluctuation during the trade did not exceed 0.21%. Summary of the session - obvious prevailing supply of dollars over demand for them. The latter was significant (enough to mention doubling of the trade volume relative to yesterday), but could not resist sales volumes, most of which, is more likely to come from exporters' earnings. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 141.25/40 tenge per unit, two hours later - 141.36/42. 6 deals were made in Deutsche mark. Weighted average exchange rate of the mark - 77.26 (+0.83) tenge per unit. Trade volume - DEM60 (+50) thousand. At closing of the session Deutsche mark was quoted at 78.17/50 tenge per unit of the currency. No deals were made in euro. At closing of the session euro was offered at 153.00 tenge per unit.