Revival of USD market at KASE did not reveal principal changes in the market conjuncture

/IRBIS, Jan.28, 00/ - 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 139.30 tenge per unit. Total of 81 deals were made. Weighted average dollar exchange rate equaled to 139.38 (-0.01) tenge per unit. Volume of the session - $3.315 mln (+$2.930 mln). Exchange rate fluctuation during the trade - 0.07%. The trades were closed at 139.37/38 tenge per dollar. Today the market revived again after yesterday's sluggish trades. Possible reason for this is the repayment of SS. Additional free money has appeared in the market. However, this money did not work only for demand. Last trades showed the market was still balanced. More than half of the participants dealt with volumes exceeding 200 th. U.S. dollars. Most of the supply came from one participant that controlled about 40% of all sales. Activity of other sellers - there were 7 of them - was also quite high. Demand for the dollars was evenly distributed among the buyers. The number of buying banks was inferior to those of the sellers. Distinctive feature of the trades - high speculative component in dealers' behaviors. In general, the trades did not reveal an organized demand of the banks, as well as an explicit desire of the most to sell dollars. Today the price compromise was reached with varying success within 139.37 - 139.40 tenge per dollar. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 139.35/43 tenge per unit, two hours later - 139.40/44. In the day session of KASE with TOD payment terms at 1:00PM the dollar was at 139.38/43. Deutsche mark, morning session, TOD: no deals. Closing quotations - 70.50/71.14 tenge for mark. Euro, morning session, TOD: no deals. Closing quotations - 136.45/139.35 tenge for euro.