At KASE no principal changes in USD market

/IRBIS, Feb.29, 00/ - Today the next morning trades in U.S. dollars, Deutsche marks and euros were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 21 banks participated in the trades. Today the trades in US dollars opened at KZT140.40 per unit. Total of 119 deals were made. Weighted average dollar exchange rate equaled to KZT140.44 (+0.12) per unit. Volume of the session - $9.740 mln (+$555 th.). Exchange rate fluctuation during the trade - 0.09%. The trades were closed at KZT140.46/47 per dollar. Today the market conjuncture did not change much. Demand of the banks of the second tier remains high. The buyers got active after the price of the dollar decreased down to KZT140.34 - 140.35 at the very beginning of the trade. But then, despite a fast paced growth in the exchange rate of USD, activity of the buyers were only increasing. When the market reached KZT140.45 level a large volume of the American currency appeared on the trade floor that stabilized the market. Beginning from the 30th minute of the trades all remaining deals were made at KZT140.45 - 140.46 per USD. By the results of the trades it can be said the purchases of the dollars got essentially active this week. On the one hand, it was caused by approaching spring and seasonal devaluation expectations associated with it. On the other, repayment of MEKKAM-3 of the 251st issue for a total of KZT786.7 mln today. The conjuncture of financial market is changing under the influence of accelerating devaluation of tenge, and now the dealers have another look at the yields offered by the emitters of SS today. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at KZT140.47/55 tenge per unit. Two hours later - KZT140.45/53. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at KZT140.49/54. Deutsche mark, morning session, TOD: no deals were made. Closing quotations were absent. Euro, morning session, TOD: no deals were made. Closing quotations were absent.