Final trades of the week at KASE to prove firming of USD

/IRBIS, Dec.3, 99/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 21 banks participated in the trades. Today the trades in US dollars opened at 137.99 tenge per unit. Total of 32 deals were made. Weighted average dollar exchange rate equaled to 138.18 (+0.10) tenge per unit. Volume of the session - $820 thousand (-$265 thousand). Exchange rate fluctuation during the trade did not exceed 0.15%. The trades were closed at 138.18/19 tenge per dollar. Volumes of the deals were small all session long. Their total amount did not exceed 85 thousand USD by the fortieth minute. But even with such a low volume of transactions the dealers could lead the market upward one transaction after another. The trade got active in last five minutes, where the majority of operations were conducted at the highest prices of the day: 138.18 - 138.20 tenge per dollar. Actually, this operations ensured the resulting growth in the weighted average rate of the dollar. In general, final trades of the week completely proved the trend of firming dollar against tenge. Dollar rose daily, and traders game to raise the exchange rate had a tremendous success. week's results let us talk about formation of a new trend in USD/KZT exchange rate dynamics. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 138.23/33 tenge per unit, two hours later - 138.23/33. In the day session of KASE with TOD payment terms at 1:00PM the dollar was quoted at 138.05/70. Deutsche mark, morning session, TOD: no deals, At closing of the session Deutsche mark was asked for 70.65 tenge per mark. Euro, morning session, TOD: 1 deal, price - 138.60 (-0.90) tenge per unit, volume - EUR35 (+30) thousand. At closing of the session euro was asked for 138.40 tenge per euro.