In Exchange trades in dollars a balance between demand and supply was observed with strong opening of the market

/IRBIS, Feb.21, 00/ - Today at Kazakhstan stock exchange (KASE) the morning trades on TOD payment terms were held in Deutsche mark and Euro only. In the morning session in U.S. dollars trades were held on TOM terms (next day delivery) due to the holiday in the USA. 16 banks participated in the trades. Today the trades in US dollars opened at 140.15 tenge per unit. Total of 93 deals were made. Weighted average dollar exchange rate equaled to 140.16 (+0.26 relatively to USD_TOD on Friday) tenge per unit. Volume of the session - $9.990 mln (+$6.375 mln). Exchange rate fluctuation during the trade - 0.01%. The trades were closed at 140.14/16 tenge per dollar. Funds, received from the repayment of SS at the end of last week, are still influencing the market. Moreover, there are psychological factors: growth in the exchange rate of the dollar all Friday long and 10 point increase of official rate of the American currency today. The market opened very strong. However, no firming of the dollar was observed during the trades. Balance of demand and supply has settled down on the trade floor immediately, which has been supported mainly by two participants: one was selling dollars (controlling 55% of the market), and another one - buying them (70% of the market). The American currency was traded within a very narrow 140.14 - 140.16 price interval. There were no explicit trends in the dynamics of the exchange rate. It should be notes though, that traders got active in last five minutes of the trade, when they understood that the market conjuncture would not change. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 140.10/15 tenge per unit. Two hours later - 140.10/16. Deutsche mark, morning session, TOD: no deals. Closing quotations - 70.66/80 tenge for mark. Euro, morning session, TOD: no deals. Closing quotations - 138.00/40 tenge for euro.