Trades in dollars at KASE went with prevalence of supply over demand and lowering of the dollar exchange rate throughout the session

/IRBIS, Oct.29, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE). 26 banks participated in the trades. Today the trades were opened in the US dollar at 140.30 tenge per unit, which was due to growth of dollar quotations on interbank market yesterday evening. At first, the market took this level. And what is more, under the influence of demand dollar soared to the highest mark of the day - 140.43 tenge per unit. It happened immediately after the opening of the trades with minimal volumes of the deals. At the 8th minute of the trade the situation turned around. Large volume of currency supply showed up on the trade floor, which obviously exceeded existing demand. The dollar exchange quickly fell down. The initiative was taken over by the buyers, and the price of an American currency kept falling till the very end of the trade with descending speed increasing as the session was coming to its end. The trades were closed at 140.07/08 tenge per dollar. Total of 274 deals were made in US dollars. Weighted average dollar exchange rate made 140.22 (+0.07). Volume of the session - $12.595 mln (+$2.165 mln). Exchange rate fluctuation during the trade reached 0.26%. Today the market conjuncture was formed under the influence of great demand for dollars with sufficient supply of the latter. Five out of 25 participants of the trades preferred buying of dollars rather than selling them. Purchasing volumes were great at that. However, demand was specific. Dollar was not bought at any price. Buyers efficiently used large volume of supply and were able to get the price of an American currency to fall down significantly. Unlike previous days, speculative component in dealers' behaviors was not so explicit. Resulting increase of the weighted average exchange rate of the dollar by the end of the session was exclusively caused by strong opening of the trades. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 140.07/20 tenge per unit, two hours later - 140.00/20. 8 deals were made in Deutsche mark. Weighted average rate of the mark - 75.65 (-0.42) tenge per unit. Trade volume of the session - DEM75 (+40) thousand. At closing of the session Deutsche mark was quoted at 75.60/65 tenge per unit. No deals were made in euro. Demand and supply were absent at closing of the session.