At KASE - balanced market for the dollar

/IRBIS, Feb.10, 00/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. Because of technical problems trades began at 10:35AM Almaty time. 19 banks participated in the trades. Today the trades in US dollars opened at 139.85 tenge per unit. Total of 54 deals were made. Weighted average dollar exchange rate equaled to 139.86 (+0.04) tenge per unit. Volume of the session - $3.115 mln (-$2.870 mln). Exchange rate fluctuation during the trade - 0.02%. The trades were closed at 139.86/87 tenge per dollar. Today the trades confirmed the decrease in dollar supplies of the banks of the second tier. However, demand was not great either. Clean up of correspondent accounts of the banks by the National Bank's offering of notes for KZT1,633.0 mln a day before had its impact on behaviors of the participants. Overnight quotations jumped up to 8/13 APR in the morning. The Exchange market for the dollar seemed to be balanced notwithstanding the inclination of the dollar towards the growth in the last phase of the trade. Most of the deals were made at 139.85 - 139.86. Equilibrium was reached at these levels. Most of the traders took one sided position in working with USD, either selling them or buying them only. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 139.81/86 tenge per unit. Two hours later - 139.78/84. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at 139.77/84, deal was made at 139.83 tenge per dollar. After closing of the morning session indicators confirm the balanced condition of the market that may change under the influence of large repayment of the National Bank notes in the evening. Repayment amount reaches KZT3,502.4 mln on Thursday and Friday. Free funds will appear on the market, and it possible they will work to create additional demand for the dollars. Deutsche mark, morning session, TOD: no deals. Closing demand - 71.25 tenge for mark, no offer. Euro, morning session, TOD: no deals. Closing quotations - 138.71/76 tenge for euro.