USD rate continues to decrease at high supply nd low demand from the banks of the second tier

/IRBIS, Nov.15, 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 139.00 tenge per unit. Total of 326 deals were made. Weighted average dollar exchange rate made 139.10 (-0.51) tenge per unit. Volume of the session - $16.640 mln (+$8.650 mln). Exchange rate fluctuation during the trade did not exceed 0.22%. The trades were closed at 139.16/17 tenge per dollar. A very low opening of the trade was not the only today's records. Almost complete absence of a dollar demand from the banks of the second level and its big supply have resulted within the first minutes in the dollar decrease to 138.88 tenge per unit - the lowest price since August 24 of the current year. So low price has resulted in the demand increase, and by the middle of the session dollar has increased to 139.16 - the day's supply / demand balance level. It is not excluded, that the significant dollars supply on today's trades has been caused by the export proceeds sale. Dollar has been offered by the many banks, whereas demand has been monopolized. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 138.90/139.05 tenge per unit, two hours later -138.85/95. Deutsche mark: 8 deals, weighted average rate - 73.49 (-0.86) tenge per unit, volume DEM140 (+130) thousand. At closing of the session Deutsche mark was quoted at 73.45/50 tenge per unit. Euro: no deals were made. A demand quotation at the session closing - 142.61, there were no supply.