At KASE large supply volume of dollars made its exchange rate to fall

/IRBIS, Oct.27, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE). 25 banks participated in the trades. Today the trades were opened in the US dollar at 140.41 tenge per unit. Under the influence of a significant currency supply the price of the dollar quickly went down to 140.33 at first, then reached the lowest mark of the trade - 140.25 tenge per unit by the 12th minute. Activation of the buyers at this level brought about a compensatory growth of the dollar exchange rate up to 140.33 tenge close to the 15th minute of the session. After a brief downward correction of the exchange rate the dealers were able to find a price compromise within 140.30-140.33 tenge price interval, which narrowed down to 140.30-140.31 tenge per dollar by the end of the session. The trades were closed at - 140.30/31 tenge per unit. 160 deals were made in US dollars. Weighted average dollar exchange rate made 140.32 (-0.21). Volume of the session - $8.605 mln (+$1.035 mln). Exchange rate fluctuation during the trade did not exceed 0.11%. Trades were characterized by some prevalence of supply of dollars over demand, which was apparent in the first half of the session. However, in general, the market is still in an equilibrium. Today it was achieved at a lower level than it did yesterday. No pure buying or selling of dollars were observed. Dealers were both actively buying and selling. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 140.26/30 tenge per unit, two hours later - 140.25/30. 3 deals were made in Deutsche mark. Weighted average exchange rate of the mark - 76.07 (-0.93) tenge per unit. Trade volume - DEM35 (+20) thousand. At closing of the session Deutsche mark was quoted at 76.00/12 tenge per unit. No deals were made in euro. At closing of the session euro was quoted at 148.40/151.10 tenge per unit.