The large supply USD on KASE has caused tenge strengthening

/IRBIS, Oct.20, 99/ - On the Kazakhstan stock exchange (KASE) next trades in US dollar, deutsche mark and euro were held. 23 banks participated in the trades. The trades in US dollar were opened today at the mark of 141.75 tenge per unit. As well as yesterday, the opening price did not correspond to the market conjuncture, and the sellers had to carry out the first transactions at the price of 140.58, and then of 140.52 tenge per dollar. After small correction upwards the dollar continued to decrease, affected by rather big offer. The buyers, as well as yesterday, conducted to lead the market downwards. The situation was a little bit changed at 30-th minute, when the dollar rate has reached its day's minimum - 140.41. The demand has grown and the buyers became active. Five minutes later dollar price was 140.48. And only by the last minutes of session the dealers managed to find the price compromise in an interval of 140.42-140.47 tenge per dollar. The trades were closed at the quotations of 140.44/46 tenges. Total in USD 266 transactions were made. The average weighted rate is 140.48 (-0.32) tenge per unit, volume of session - $11.730 million (- $965,000). The amplitude of rate fluctuation during the trade reached 0.24%. Dealers' behaviour and character of dollar rate change this session were very similar to that of the yesterday's. Despite increasing volume of trade, the number of the participants making the significant transactons was less than in Tuesday. Speculative component a little bit decreased, but any basic changes of a buisenes conditions was not observed. The resulting dollar decrease was caused mostly by the large volume of USD supply. It is not excluded, that the considerable share of it belonged to the exporters. One hour after closing on the OTC market of Kazakhstan dollar was quoted at a level of 140.35/50 tenge per unit, two hours later - 140.33/53. Deutsche mark: 3 transactions were made. An average weighted rate is 77.87 (-0.26) tenges per unit. Volume of session - DEM15,000 (-100,000). The closing quotation has made 77.65/80 tenges per unit. Euro: transactions were not made The closing quotation has made 151.79 tenges per unit.