At the end of the week the banks will prefer SS over the dollars, and the exchange rate of the tenge will grow at KASE
15.06.00 00:00
/IRBIS, June 15, 00/ - Today the next morning trades in U.S. dollars,
Deutsche marks and euros with TOD payment terms were held at
Kazakhstan stock exchange (KASE). 17 banks participated in the trades.
Today the trades in U.S. dollars opened at KZT142.90 per unit. Total of 56
deals were made. Weighted average dollar exchange rate equaled to
KZT142.57 (-0.25) per unit. Volume of the session - $2.425 mln (-$915 th.).
Exchange rate fluctuation during the trade - 0.24%. The trades were closed
at KZT142.55/56 per dollar.
Today the conjuncture of the Exchange market of the dollar practically did
not differ from that of yesterday. Numerical superiority of the buyers over the
sellers does not make the demand to prevail over the supply. Nobody wants
to buy the dollars at a growing price. Therefore, as it happened at two
previous sessions, the exchange rate of the tenge against the dollar was
almost apparently growing throughout the trades.
Relatively weak opening of the market and insignificant volume of deals, that
were made at maximum prices, are the things that differentiated this trades
from previous ones. It caused weighted average rate of the dollar to lower
significantly relative to that of the trades held yesterday.
IRBIS analysts believe that such behaviors of the traders can be explained
by interesting SS auctions to be held at the end of the week. Apparently, the
banks are interested in buying MEKKAM-3, MEKKAM-6 and the notes
notwithstanding their decreasing yields, and thus, leaving the dollar market
for their clients.
One hour after closing of the morning session on interbank market of
Kazakhstan dollar was quoted at KZT142.43/53 per unit. Two hours later -
KZT142.46/51. At the day session of KASE with TOD payment terms at
12:30PM the dollar was quoted at KZT142.46/50 per unit.
Deutsche mark, morning session, TOD: no deals. Closing offer -
KZT70.20 for mark, no demand.
Euro, morning session, TOD: no deals. Closing quotations were absent.