Demand for dollars of BST has risen sharply at the Exchange

/IRBIS, March 1, 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. 22 banks participated in the trades. Today the trades in U.S. dollars opened at KZT140.70 per unit. Total of 111 deals were made. Weighted average dollar exchange rate equaled to KZT140.70 (+0.26) per unit. Volume of the session - $18.230 mln (+$8.490 mln). Exchange rate fluctuation during the trade did not exceed 0.01%. The trades were closed at KZT140.69/70 per dollar. The conjuncture of the Exchange currency market is being deformed towards massive and one sided demand for dollars of the banks of the second tier. Today it was obvious. Of 19 participants that made deals on the trades, 17 were buying dollars, while they were sold by five traders only. Four of this five dealers had symbolic volumes of operations. To traditionally growing devaluation expectations in spring, increase in official price of USD by 35 points at once was added. In IRBIS analysts' opinions, this factor was mainly determined the behaviors of the dealers on the main session of KASE. As they say, even before the trades began it was clear that there were no sellers on interbank market. Therefore, most dealers came to the Exchange to buy dollars. KZT786.7 mln repayment of MEKKAM-3 on Tuesday with absence of SS offering today has also stimulated the growth in demand for USD. In such situation the head bank of the country had to stabilize the market today. All deals, except for the one, were made in the morning session of KASE at one price - KZT140.70 per dollar. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at KZT140.65/70 per unit. Two hours later - KZT140.65/75. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at KZT140.69/73. Deutsche mark, morning session, TOD: no deals were made. Closing quotations were absent. Euro, morning session, TOD: no deals were made. Closing quotations - KZT136.00/40 for euro.