On KASE balanced and little active market for USD

/IRBIS, Dec.7, 99/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 20 banks participated in the trades. Today the trades in US dollars opened at 139.20 tenge per unit. Total of 141 deals were made. Weighted average dollar exchange rate equaled to 138.36 (+0.02) tenge per unit. Volume of the session - $2,905 mln (-$9,070 mln). Exchange rate fluctuation during the trade reached 0.62%. The trades were closed at 138.37/38 tenge per dollar. Strong opening of the market today was not supported by further developments. After an active Monday trades the banks were unable to create as organized and big demand as they did yesterday to boost the exchange rate of the dollar. The second deal has already fixed the price of an American currency at 138.36 tenge per unit, and remaining trades went on within a narrow price range 138.33 - 138.38. In general, the market looked like balanced today. Number of buyers and sellers were about the same. Traders were quite active: almost all of them, who were regstered in the trade system, took part in the trades. However, most of the dealers preferred to restrain themselves by small operations. The degree of market monopolization was equal on the demand and supply side. Dollars were sold mainly by two participants (75% of total supply) and bought by one participant (35%). But market monopolization on the demand side was lower than on supply side. Speculative component has risen. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 138.33/36 tenge per unit, two hours later - 138.33/36. In the day session of KASE with TOD payment terms at 1:00PM the dollar was not quoted. Deutsche mark, morning session, TOD: 1 deal, price - 72.40 (+1.10) tenge per unit, volume - DEM10 (-5) thousand. At closing of the session Deutsche mark was quoted at 72.25/40 tenge per unit. Euro, morning session, TOD: no deals. At closing of the session euro was quoted at 140.23/70 tenge per unit.