At KASE dollar continues to fall without a support of the banks of the second tier

/IRBIS, Nov.11, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE). 23 banks participated in the trades. Today the trades in US dollars opened at 139.40 tenge per unit. Total of 248 deals were made. Weighted average dollar exchange rate made 139.45 (-0.47) tenge per unit. Volume of the session - $13.400 mln (+$3,110 mln). Exchange rate fluctuation during the trade reached 0.54%. The trades were closed at 139.76/82 tenge per dollar. Compared with yesterday's session, today activity of trade participants sharply decreased again. Degree of market monopolization was very high. Almost all currency turnover was under the control of two-three banks. Other participants restricted themselves with small volume deals. Great supply volume of dollars faced with an appropriate demand, which stimulated the growth in the exchange rate of the dollar almost throughout the session. However, before the growth, the dollar went down to 139.15 tenge per unit as a result of the pressure of supply. It was this movement that made buyers active and the dollar exchange rate to grow all session long. Slight deficit of free funds, which could be felt on the market yesterday, today became apparent: quotations of short money grew twice with respect to yesterday's levels. One hour after closing of the trades on interbank currency market of Kazakhstan dollar was quoted at 139.70/90 tenge per unit, two hours later - 139.75/90. Deutsche mark: 5 deals, weighted average rate - 74.46 (-0.24) tenge per unit, volume DEM70 (+55) thousand. At closing of the session mark was quoted at 74.40/65 tenge per unit. Euro: 1 deal at 147.20 (+2.00) tenge per unit, volume EUR5 (0) thousand. At closing of the session euro was quoted at 146.20/147.20 tenge per euro.