No changes in USD exchange market of Kazakhstan: exchange rate of the dollar grows under high demand of BST

/IRBIS, Jan.11, 00/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 19 banks participated in the trades. Today the trades in US dollars opened at 139.05 tenge per unit. Total of 160 deals were made. Weighted average dollar exchange rate equaled to 138.96 (+0.06) tenge per unit. Volume of the session - $16,905 mln (+$5,880 mln). Exchange rate fluctuation during the trade - 0.11%. The trades were closed at 138.91/92 tenge per dollar. The market conjuncture did not change much. Banks of the second tier still create high demand for the U.S. dollars, which, as it happened yesterday, was neutralized by sales of mainly one participant (98.7% of all sales). Beginning phase of the trade went on within 139.05 - 139.06 tenge per dollar price interval. Deals reached USD4 mln at these prices. But due to emergence of a significant supply of the American currency on the trade floor in the middle of the session the market found a new equilibrium at 138.92. Despite sharp decline in price of the dollar, this level was more higher than that achieved yesterday. Speculative component in dealers' behavior was completely absent, banks were either selling or buying dollars. In IRBIS analysts' opinion, demand accumulated during the holidays are still affecting the trades. In this respect, the situation at KASE reminds of that in Russia: at MICEX rouble continues to lose points, which is mainly caused by accumulated demand, say some experts. At the same time it should be noted though, inflow of exporters earning into KASE leaves a hope for the best. No activation is being observed. More likely, exporters prefer to sell dollars out of the Exchange, since in the second half of the day interbank rates steadily exceed the Exchange's price for the American currency. As a results, an interesting trend of the dollar exchange rate is being formed for the dealers in the sector of currency exchange, which is characterized by a potential profit of 19.2% APR. This yield remarkably exceeds that offered by the Ministry of finance and the National Bank in SS market, which may bring about redistribution of bank limits in favor of the currency sector with all the consequences. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 138.95/139.00 tenge per unit, two hours later quotations did not change: 138.95/139.00. In the day session of KASE with TOD payment terms at 1:00PM the dollar was quoted at 138.96/139.00. Deutsche mark, morning session, TOD: no deals. Closing demand - 72.27 tenge for mark, no offer. Euro, morning session, TOD: no deals. Closing demand - 141.31 tenge for euro, no offer.