Forthcoming repayment of SS for KZT2.5 bln caused the growth in Exchange's demand for USD

/IRBIS, March 30, 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. 18 banks participated in the trades. Today the trades in U.S. dollars opened at KZT142.00 per unit. Total of 121 deals were made. Weighted average dollar exchange rate equaled to KZT141.97 (+0.12) per unit. Volume of the session - $9.785 mln (+$7.205 mln). Exchange rate fluctuation during the trade - 0.04%. The trades were closed at KZT141.95/97 per dollar. The dollar market has changed again. Today formerly inactive banks became completely different. Strong and organized demand was created on the floor by 16 participants. Four of them were handling more than 1 mln U.S. dollars. It is quite possible, that some banks were working towards "the repayment" of SS, since KZT2.5 bln should flow into their corespondent accounts today. Despite sharply grown demand, volume of dollars supplied to the trade floor did not let USD to firm during the trades. Resulting growth in the Exchange price of the dollar was mainly caused by a strong opening of the market. And during the session the exchange rate of the American currency was falling gradually and steadily under surmounting supply of USD from mainly one participant. Once again, the results of the trade proved that the banks of the second tier use each chance to stretch their currency positions. As soon as free funds get into their correspondent accounts they are invested into USD. One hour after closing of the morning session on interbank market of Kazakhstan dollar was quoted at KZT141.93/97 per unit. Two hours later - KZT141.95/98. In the day session of KASE with TOD payment terms at 12:30PM the dollar was at KZT141.93/96. Deutsche mark, morning session, TOD: no deals. Closing quotations - KZT69.00/70.00 for mark. Euro, morning session, TOD: no deals. Closing quotations - KZT135.00/136.89 for euro.