No principal changes in Exchange's trades in dollars

/IRBIS, Dec.20, 99/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 17 banks participated in the trades. Today the trades in US dollars opened at 138.01 tenge per unit. Total of 67 deals were made. Weighted average dollar exchange rate equaled to 137.99 (-0.02) tenge per unit. Volume of the session - $3,590 mln (-$4,080 mln). Exchange rate fluctuation during the trade did not exceed 0.02%. The trades were closed at 137.99/138.00 tenge per dollar. The conjuncture of the Exchange market for the dollar did not change principally. Major supply of dollars still came from the banks of the second tier. Distinctive feature of the session is high degree of market monopolization: one participant accounted for 89% of sales, and another one accounted for 76% of purchases. First 15 minutes of the session were unsuccessful. Decrease in the price of the dollar down to 137.98 made the traders active. Then, dollar grew a little, and the final price compromise was found within 137.99 - 138.00 interval. By the results of the session, it can be said that dealers are not interested I supporting the exchange rate of an American currency at this level. The market is surely "looking downward". One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 137.95/138.00 tenge per unit, two hours later - 137.96/138.02. In the day session of KASE with TOD payment terms at 1:00PM the dollar still was not quoted. Deutsche mark, morning session, TOD: no deals. Closing quotations - 71.34/39 tenge for mark. Euro, morning session, TOD: no deals. Closing quotations - 139.00/60 tenge for euro.