KASE: market for the dollar is still inactive

/IRBIS, Dec.15, 99/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 16 banks participated in the trades. Today the trades in US dollars opened at 138.09 tenge per unit. Total of 29 deals were made. Weighted average dollar exchange rate equaled to 138.05 (-0.03) tenge per unit. Volume of the session - $325 thousand (-$250 thousand). Exchange rate fluctuation during the trade did not exceed 0.09%. The trades were closed at 138.05/08 tenge per dollar. Exchange trades are still inactive. Today maximum position of a single participant did not exceed 100 thousand US dollars. After beginning firming of the dollar, which happened with minimal volumes of deals, and following half hour silence, the market found a new level at lower price level of USD - 138.02. Such correction of the rate made the traders active. Demand has appeared on the floor, which allowed sellers to lift the price of an American currency up to 138.05 tenge per unit by the end of the session. Results of the session indicate that currency market is still balanced and deficit of both dollars and tenges is absent. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 137.98/138.01 tenge per unit, two hours later - 137.83/95. In the day session of KASE with TOD payment terms at 1:00PM the dollar was still not quoted. Deutsche mark, morning session, TOD: 1 deal, price - 71.40 (-0.38) tenge per unit, volume - DEM5 (0) thousand. Closing quotations - 70.90/71.15 tenge for mark. Euro, morning session, TOD: no deals. No closing quotations.