On KASE tenge increases: the dealers do not want to bay USD at a high price

/IRBIS, Nov.01, 99/ - The next trades in US dollar, deutsche mark and Euro were held on the Kazakhstan Stock Exchange (KASE) with participation of 22 banks. US dollar: trade was opened at a mark of 140.00 tenge for unit. In total 274 transactions were made. The average weighted dollar rate has made 140.03 (-0.19) tenge per unit. Volume of session - $11.185 million (-$1.410 million). The amplitude of the dollar rate fluctuation has reached during trades 0.15%. The trades were closed by the quotations of 140.05/07 tenge per dollar. Principally, the dollar rate have been rising during this trade. However it does not allow to speak about unequivocal prevalence of demand, which is quite high, but it does not result in the dollar rate growth. The banks are still afraid to bay the dollar at a high price. Attempts of the separate sellers "to raise" the market remain without result. The current moment peculiarity is unwillingness of the dealers to sell hard currency, which was just now sold to the banks by the exporters. Recently this currency circuit was basic on the platform. This unwillingness can explain decrease of the speculative component in the traders behavior. While the traders did not start to open the short positions, that is, the banks did not start to sale of dollar, supporting the tenge strengthening tendency and perceiving it as long-term). But most probably no one is going to extend his currency position. One hour after of exchange session closing on OTS market of Kazakhstan dollar was quoted at a level of 139.95/140.35 tenge per unit, two hours later - 140.00/09. Deutsche mark: 2 transactions were made. An average weighted DM rate is 75.67 (+0.02) tenges per unit, volume of session - DEM15,000 (-60,000). At the session closing the mark quotations have made 75.30/65 tenges for unit. Euro: no transaction was made. At the session closing Euro was offered at 147.70 tenge per unit.