At KASE the market for the dollar got balanced

/IRBIS, Nov.09, 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 in US dollars opened at 139.50 tenge per unit. Total of 258 deals were made. Weighted average dollar exchange rate made 139.93 (-0.04) tenge per unit. Volume of the session - $14.795 mln (+$2,375 mln). Exchange rate fluctuation during the trade reached 0.36%. The trades were closed at 139.91/95 tenge per dollar. The market for the dollar seemed to be balanced today. Growth of an American currency at the beginning of the trade was due to solely on weak opening of the trade, and as it became clear, it was not appropriate for the conjuncture. After a correction of the exchange rate up to 140.00 and subsequent rollback, the parity of demand and supply was found around 139.95 tenge per dollar. Dealers' behaviors did not differ much from that of theirs yesterday. Monopolization degree of the market was very high. Most of the participants restrained themselves from active actions. Nearly all volume of the operations were under the control of six banks only. At the same time, speculative component in dealers' behaviors grew. Enough to say, four banks finished the session with zero net positions. No apparent trend could be traced in further dynamics of the dollar exchange rate after the trade ended. However, results of an analysis of the session and dealers' behavior allow IRBIS specialists assume weakening of the dollar against tenge and possibility of further strengthening of the national currency of Kazakhstan. One hour after closing of the trades on interbank market of Kazakhstan the dollar was quoted at 139.93/96 tenge per unit, two hours later -139.95/99. 5 deals were made in Deutsche mark. Weighted average rate of the mark - 74.43 (-0.79) tenge per unit. Volume of the session - DEM70 (+15) thousand. At closing of the session Deutsche mark quotations equaled to 74.30/50 tenge per unit. 1 deal was made in euro at 145.20 (-2.10) tenge per unit. Volume of the session - EUR5 (-5) thousand. At closing of the session euro quotations equaled to 145.22/146.28 tenge per unit.