At KASE dollar exchange rate fell because of great supply of USD

/IRBIS, Feb.11, 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 139.88 tenge per unit. Total of 111 deals were made. Weighted average dollar exchange rate equaled to 139.84 (-0.02) tenge per unit. Volume of the session - $5.060 mln (+$1.945 mln). Exchange rate fluctuation during the trade - 0.05%. The trades were closed at 139.82/83 tenge per dollar. The session went with excessive supply of dollars over the demand. Practically, throughout the session the exchange rate of the dollar was falling, since the demand of the most of the participants did not let to hold currency trades at a growing price. The session vividly showed that the market for the dollar had still been in balance, and a growth in USD exchange rate that was observed lately had been mainly caused by a speculative games of the banks. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 139.75/85 tenge per unit. Two hours later quotations did not change. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at 139.76/81. Deutsche mark, morning session, TOD: no deals. Closing quotations were absent. Euro, morning session, TOD: no deals. Closing quotations - 137.17/138.68 tenge for euro.