Today at KASE banks preferred to sell dollars

/IRBIS, Feb.15, 00/ - The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 17 banks participated in the trades. Today the trades in US dollars opened at 139.85 tenge per unit. Total of 61 deals were made. Weighted average dollar exchange rate equaled to 139.85 (-0.06) tenge per unit. Volume of the session - $4.590 mln (+$2.580 mln). Exchange rate fluctuation during the trade - 0.06%. The trades were closed at 139.84/85 tenge per dollar. The session demonstrated a volatile but still balanced market of the U.S. dollar. Distinctive feature of the trades is an activity of the most of the traders. With some exceptions, banks were not dealing with big amounts of operations. However, 16 out of 17 dealers, that were registered in the trade system, were making deals. Most of the banks preferred to sell dollars: based on the growth of interbank overnights up to 5/11 APR, a temporary deficit of tenge is felt on the market. There were twice as less buyers as the sellers, though their demand could balance the supply completely. The first 15 minutes of the trades went on with tense position games of the traders. By making small deals they were more likely trying to get their counteragents to accept their rules of the game than getting the feel of the market conjuncture. Since there are no certain trends on the market today, seller made their best to raise the market, and buyers were sure that there had been no grounds for the dollar to grow. This counteract ended in a compromise within 139.85 - 139.86 tenge per unit price interval, where the most of the deals were made. 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 - 139.82/88. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at 139.81/85. Deutsche mark, morning session, TOD: no deals. Closing quotations - 69.50/71.00 tenge for mark. Euro, morning session, TOD: no deals. Closing quotations - 136.47/138.87 tenge for euro.