/CORRECTED/ Today at KASE banks of the second tier were actively selling dollars

/IRBIS, Dec.19, 99, transmitted again due to an error information for DEM/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 11 banks participated in the trades. Today the trades in US dollars opened at 137.95 tenge per unit. Total of 29 deals were made. Weighted average dollar exchange rate equaled to 138.01 (-0.04) tenge per unit. Volume of the session - $7,670 mln (+$7,345 mln). Exchange rate fluctuation during the trade did not exceed 0.06%. The trades were closed at 138.02/03 tenge per dollar. Feature of today's trades - active selling of dollars by the banks of the second tier, which is most likely caused by the necessity to make budgetary payments. The year is coming to its end. Clients of the banks need tenge. Obviously, monopolization of the demand was very high. Almost all the dollars, offered for sale, were bought by a single trade participant, thus making the demand and supply balanced. This balance has settled immediately after making the second deal at 138.02 tenge per dollar. This level remained unchanged till the end of the session. Also, today traders dealt with unusually large volumes of dollars. Volume of some operations exceeded 1 mln dollars. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 137.90/96 tenge per unit, two hours later quotations did not change. In the day session of KASE with TOD payment terms at 1:00PM the dollar was still not quoted. Deutsche mark, morning session, TOD: no deals. Closing quotations - 70.80/72.00 tenge for mark. Euro, morning session, TOD: no deals. Closing demand - 138.25 tenge for euro, no offer.