At KASE dollar exchange rate grew due to a decrease in supply of BST

/IRBIS, Feb.9, 00/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 18 banks participated in the trades. Today the trades in US dollars opened at 139.78 tenge per unit. Total of 79 deals were made. Weighted average dollar exchange rate equaled to 139.82 (+0.14) tenge per unit. Volume of the session - $5.985 mln (+$1.505 mln). Exchange rate fluctuation during the trade - 0.04%. The trades were closed at 139.81/82 tenge per dollar. Activity of the banks of the second tier (BST) in buying dollars is not decreasing, which allows the sellers to be successful at raising the exchange rate. Today dollar supplies of the BST decreased noticeably. It seems dealers' forecasts regarding the reduction in sales volumes of the exporters after the first ten days of February are coming true. Significant prevalence of demand caused the USD exchange rate to grow fast in the first half of the trade. The market got balanced only when the exchange rate reached 139.83 - 139.84. The market could have stayed at this level unless large volume of relatively cheap USD appeared by the end of the trade. Under this supply the market "subsided" and weighted average rate of the American currency grew just a little by the results of the trade. The session revealed an explicit desire of the banks to raise the dollar exchange rate further. The market is becoming more loyal to the new trend. However, the dollar will hardly grow any faster, taking into account intentions of the National Bank to strictly synchronize the inflation and the devaluation. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 139.78/88 tenge per unit, two hours later - 139.80/84. In the day session of KASE with TOD payment terms at 1:00PM the dollar was at 139.80/86. Deutsche mark, morning session, TOD: no deals. No closing quotations. Euro, morning session, TOD: no deals. Closing demand - 137.91 tenge for euro, no offer.