At KASE USD exchange rate keeps growing though at slower paces

/IRBIS, Feb.22, 00/ - Today the next morning trades in U.S. 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 U.S. dollars opened at 140.10 tenge per unit. Total of 59 deals were made. Weighted average dollar exchange rate equaled to 140.19 (+0.03 relatively to USD TOM of morning session on Monday) tenge per unit. Volume of the session - $2.690 mln (-$7.300 mln). Exchange rate fluctuation during the trade - 0.08%. The trades were closed at 140.16/17 tenge per dollar. Today the trades went under quite active position games of the dealers who preferred to play it with small volumes. Approximately equal activity of all the dealers registered in the trade system, working in both directions (both buying and selling) indicated that the market is highly volatile and that everybody wanted to use it in his favor. In the first half of the trade demand was essential, which helped sellers to raise the market as high as possible - up to 140.21 tenge per dollar. This price level was the extreme. The second half of the trade went on under the prevalence of supply, and as a result, dollar began to weaken and for the last few deals it was traded around 140.16 tenge per unit. In general, the market seemed to be balanced. The number of sellers exceeded that of the buyers significantly, and demand was created mainly by three banks. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 140.14/20 tenge per unit. Two hours later - 140.13/18. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at 140.15/19. Deutsche mark, morning session, TOD: no deals. Closing demand - 71.15 tenge for mark, no offer. Euro, morning session, TOD: 1 deal, price - 139.15 (+0.05) tenge per unit, volume - EUR50 (+10) th. Closing quotations - 139.15/30 tenge for euro.