At KASE dollar continues to grow under inexorable demand of the banks

/IRBIS, Dec.1, 99/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 18 banks participated in the trades. Today the trades in US dollars opened at 138.10 tenge per unit. Total of 106 deals were made. Weighted average dollar exchange rate equaled to 138.05 (+0.15) tenge per unit. Volume of the session - $10,600 mln (+$4,405 mln). Exchange rate fluctuation during the trade did not exceed 0.07%. The trades were closed at 138.03/04 tenge per dollar. Demand for dollars of the banks of the second tier keeps rising, which resulted in growth of the dollar on today's trades. Purchasing volumes of some of the banks exceeded 1 mln dollars. Demand faced with the supply of six dealers, with four of them restricting themselves by small sales volumes. About 80% of supply was under the control of one bank. Speculative component of the trade was high: 5 out of 18 participants left the floor with zero net-positions. The session, as two previous ones, explicitly shows that the mood of the market has changed. It is inappropriate to say for sure the market is "looking downward" today. Dealers are disposed to a growth of the dollar exchange rate and try to "swing" the market. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 138.05/15 tenge per unit, two hours later - 138.05/15. In the day session of KASE with TOD payment terms at 1:00PM the dollar was asked for 137.88. By 1:00PM a spread has appeared at 137.90/138.35. Deutsche mark, morning session, TOD: 1 deal, price - 71.52 (+0.11) tenge per unit, volume - DEM5 (-60) thousand. At closing of the session Deutsche mark was quoted at 71.42/52 tenge per unit. Euro, morning session, TOD: no deals. At closing of the session euro was quoted at 139.55/141.00 tenge per unit.