At KASE dollar continues to grow under a slight prevalence of demand

/IRBIS, Feb.8, 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 139.69 tenge per unit. Total of 74 deals were made. Weighted average dollar exchange rate equaled to 139.68 (+0.10) tenge per unit. Volume of the session - $4.480 mln (-$3.115 mln). Exchange rate fluctuation during the trade - 0.03%. The trades were closed at 139.68/69 tenge per dollar. Today the trades did not reveal noticeable changes in the market conjuncture. Banks still active both at buying and selling dollars. However, dealers could not be characterized as working "in both directions". Except for rare instances, the banks were either buying or selling the American currency. Throughout the session a balance between demand and supply was maintained on the trade floor, which means that the market was balanced too, where the dollar was traded within 139.66/70 tenge per unit price interval. No explicit trends in the dynamics of the exchange rate was observed. Price compromises were achieved mainly at 139.68 and 139.69 tenge per dollar levels. Most of the deals were made by the dealers at this very prices. Based on the results of an analysis of the U.S. dollar market-maker's behavior and that of other operators of the Exchange's trade floor, it can be assumed that dollar will be inclined to grow till the end of the day. The USD market is supported by quite high demand and with sufficient supply. Therefore, the sellers will be able to raise the market today. However, absence of USD deficit on the market will not let the exchange rate of the dollar to grow significantly. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 139.67/69 tenge per unit, two hours later - 139.70/72. In the day session of KASE with TOD payment terms at 1:00PM the dollar was at 139.69/80. Dynamics of the quotations indicate a continuation of USD firming at increasing spreads. Deutsche mark, morning session, TOD: no deals. Closing offer - 70.60 tenge for mark, no demand. Euro, morning session, TOD: no deals. Closing quotations were absent. In day session with TOD terms euro was quoted at 135.00/140.00.