After cancellation of mandatory sale exchange market for the dollar has not changed principally

/IRBIS, Nov.16, 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 138.95 tenge per unit. Total of 217 deals were made. Weighted average dollar exchange rate made 139.11 (+0.01) tenge per unit. Volume of the session - $6.615 mln (-$10,025 mln). Exchange rate fluctuation during the trade reached 0.39%. The trades were closed at 139.08/12 tenge per dollar. First 15 minutes of the session dealers were "getting a feel" of the market conjuncture. After cancellation of the mandatory sale nobody wanted to risk. Transaction volumes were minimal, and the price of the dollar varied widely: 138.95 - 139.49. The market participants got noticeably active after finding a compromise price level at 139.20 tenge per dollar. Under the pressure of supply exchange rate of the dollar began to decrease gradually and only by the end of the session new balance between demand and supply has been found within 139.08-139.10 tenge price range. Today large volume of supply of an American currency originated from two banks of the second tier, and almost the same quantity of dollars came from another two participants of the trades. Interestingly, nine out of 25 dealers, who participated in the trades today, preferred buying dollars to their sale. Anyway, by the results of the trades the market has not changed principally. Tenge is still apt to grow. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 138.81/88 tenge per unit, two hours later - 138.80/88. Deutsche mark: 1 deal at 73.60 (+0.01) tenge per unit, volume DEM5 (- 135) thousand. At closing of the session Deutsche mark was quoted at 73.55/75 tenge per unit. Euro: 1 deal at 143.00 (-4.20) tenge per unit, volume EUR5 (0) thousand. At closing of the session euro quotations were absent.