At KASE USD exchange rate growth pace increases as the demand of BST gets bigger

/IRBIS, Feb.28, 00/ - Today the next morning trades in U.S. dollars, Deutsche mark and euros were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 16 banks participated in the trades. Today the trades in U.S. dollars opened at 140.30 tenge per unit. Total of 67 deals were made. Weighted average dollar exchange rate equaled to 140.32 (+0.20) tenge per unit. Volume of the session - $9.185 mln (+$4.910 mln). Exchange rate fluctuation during the trade - 0.02%. The trades were closed at 140.31/32 tenge per dollar. Today the trades were characterized by an essential activation of the buyers of the American currency. Despite a strong opening of the market, most of the dealers, that were registered in the trade system of the Exchange and those who were making deals, could not stay away from buying dollars. However, not all the buyers were constructive. Some of them hoped for the exchange rate growth during the session to gain on exchange rate differences by the results of the trade. Excessive demand caused the USD price to jump to 140.32 at the beginning of the trade. It should be said though, this growth took place under sound deals: at the ninth minute total volume of the deals was over 4 mln U.S. dollars already. But the market did not go higher. Beginning from the 12th minute the dollar exchange rate got stabilized under ever increasing supply, and later the dollar was traded within a narrow 140.31 - 140.32 tenge per unit interval. Based on the results of the trade, activity of the Exchange market has grown, and the dealers are inclined to buy USD even at growing fast prices. However, stabilizing effect of one of the sellers on the market, in IRBIS analysts' opinion, is able to cool down the participants, which is confirmed in some way by USD quotations on the interbank market after closing of the trades at KASE. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at 140.32/35 tenge per unit. Two hours later - 140.31/33. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at 140.31/36. Deutsche mark, morning session, TOD: no deals. Closing quotations - 68.20/71.85 tenge for mark. Euro, morning session, TOD: no deals. Closing quotations were absent.