Dollar grew a little on KASE at minimal trade volume

/IRBIS, Nov.24, 99/ - The next trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE). 20 banks participated in the trades. Today the trades in US dollars opened at 137.41 tenge per unit. Total of 153 deals were made. Weighted average dollar exchange rate equaled to 137.76 (+ 0.18) tenge per unit. Volume of the session - $2.885 mln (- $17,285 mln). Exchange rate fluctuation during the trade reached 0.30%. The trades were closed at 137.75/80 tenge per dollar. The market conjuncture significantly changed today due to unknown reasons. Large volume of dollar supply of the banks of the second tier, which was being observed last two weeks, is gone and caused the trade volume to drop sharply. An organized demand have emerged on the floor from six traders. This demand exceeded supply, hence, the exchange rate of the dollar grew continuously throughout the session. Speculative component in behavior of the dealers has risen also. It is still early to talk about a change in trend. Taking into account a small trade volume, the market can be characterized as "thin" today. Such market is very sensitive to even a little local misbalance of demand and supply. After a cancellation of mandatory sale of exporters' earnings most part of the dollars will go into interbank market, where the market conjuncture will be formed. Contingencies can be expected on the stock exchange at that. One hour after closing of the trades on over-the-counter market of Kazakhstan dollar was quoted at 138.00/10 tenge per unit, two hours later - 138.05/12. Deutsche mark: no deals. At closing of the session Deutsche mark was quoted at 72.50/73.20 tenge per unit. Euro: no deals. At closing of the session euro was asked for 141.05 tenge per unit.