Activity of USD trades sharply decreased at KASE, market stabilizes

/IRBIS, Jan.12, 00/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 14 banks participated in the trades. Today the trades in US dollars opened at 139.07 tenge per unit. Total of 11 deals were made. Weighted average dollar exchange rate equaled to 139.10 (+0.14) tenge per unit. Volume of the session - $1,260 mln (-$15,645 mln). Exchange rate fluctuation during the trade - 0.02%. The trades were closed at 139.10/11 tenge per dollar. Activity of the participants of the session sharply decreased. Of all traders, registered in the trade system, only half made deals. Except the first deal, whose volume did not exceed 5 th. U.S. dollars, all other operations were made at 139.10 tenge per dollar. By the results of the trade it seems as if the market is getting quiet, and that the demand, accumulated over the holidays, are vanishing. It is likely, the most of operations went into "interbank" market, where dollar quotations remain above that of the Exchange. This segment of the currency market is more attractive to the banks in terms of speculative potential, and the Exchange has served as "a currency store" in satisfying client orders. It should be noted though, as on previous days, there were only one seller of dollars. Demand monopolization was noticeable also: lately, one and the same bank buys dollars from day after day on trade floors of the Exchange, which means that the demand for the American currency is not massive. More likely, it was caused by a local reasons, and hence, is temporary. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 139.14/18 tenge per unit, two hours later - 139.15/19. In the day session of KASE with TOD payment terms at 1:00PM the dollar was at 139.14/19. Deutsche mark, morning session, TOD: no deals. Closing quotations were absent. Euro, morning session, TOD: no deals. Closing demand - 141.77 tenge for euro, no offer.