At KASE dollar exchange rate grew due to increase in official rate of USD

/IRBIS, Feb.14, 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 139.90 tenge per unit. Total of 36 deals were made. Weighted average dollar exchange rate equaled to 139.91 (+0.07) tenge per unit. Volume of the session - $2.010 mln (-$3.050 mln). Exchange rate fluctuation during the trade - 0.03%. The trades were closed at 139.88/89 tenge per dollar. No noticeable changes in the market conjuncture were observed relative to that of Friday. Despite a significant prevalence of the buyers of dollars over the sellers, growth in USD exchange rate, which was mainly caused by a speculative games of some of the traders at the beginning of the session, was inessential by the results of the trades. Throughout the session the dollar exchange rate was inclined to fall and resulting increase in weighted average rate was caused by a strong opening of the market. In IRBIS analysts' opinion, today high prices of the first deals were not appropriate to real market conjuncture and were due to a psychological factor - increase in official rate of the dollar from 139.65 to 139.85 tenge per unit. The sellers were attempting to use this factor, but the market made its own corrections by getting active only when the dollar exchange rate went below 139.91. The results of the session proved downward trend of the dollar exchange rate that has started on Friday already. Dynamics of interbank quotations are also in favor of this, and they did not go over the levels attained at the Exchange after the closing of the trades. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 139.87/90 tenge per unit. Two hours later - 139.85/89. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at 139.86/90. Deutsche mark, morning session, TOD: no deals. No closing quotations. Euro, morning session, TOD: 2 deals, weighted average - 139.10 (-0.60) tenge per unit, volume - EUR40 (0) th. Closing quotations - 137.71/138.79 tenge for euro.