Today at KASE growth in USD exchange rate was due to subjective factors

/IRBIS, Nov.12, 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 in US dollars opened at 139.65 tenge per unit. Total of 232 deals were made. Weighted average dollar exchange rate made 139.61 (+0.16) tenge per unit. Volume of the session - $7.990 mln (-$5,410 mln). Exchange rate fluctuation during the trade did not exceed 0.14%. The trades were closed at 139.55/57 tenge per dollar. Today the dollar market was almost balanced. Supply slightly exceeded demand, and thus, ensured dollar falling during the trades. However, strong opening of the market and ability of the banks to buy dollars at quite high prices caused the weighted average exchange rate of the dollar to grow compared with that of last trades as well. The market was less monopolized today than it was yesterday. Six trade participants were selling dollars in large quantities. More likely, they were selling exporters' earnings. But, only one bank of the second tier made an adequate demand. It let's us to assume, causes that brought up the weighted average exchange rate of an American currency were rather subjective. In general, it is hard to talk about strong position of the dollar on local market based on the market conjuncture. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 139.35/45 tenge per unit, two hours later - 139.40/50. Deutsche mark: 2 deals, weighted average rate - 74.35 (-0.11) tenge per unit, volume DEM10 (-60) thousand. At closing of the session Deutsche mark was quoted at 74.31/45 tenge per unit. Euro: no deals were made. At closing of the session quotations equaled 144.01/146.20 tenge per euro.