At KASE price of the dollar falls slightly under the influence of sharp increase in USD supplies

/IRBIS, July 31, 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). 16 banks participated in the trades. Today the trades in U.S. dollars opened at KZT142.72 per unit. Total of 94 deals were made. Weighted average dollar exchange rate equaled to KZT142.71 (-0.04) per unit. Volume of the session - $4.365 mln (+$1.015 mln). Exchange rate fluctuation during the trade - 0.04%. The trades were closed at KZT142.70/71 per dollar. Today the trade participants slightly activated. Two banks appeared on the trade floor with noticeable volumes of the American currency sales at once. This supply was mainly neutralized by one bank of the second tier, who bought 1 mln USD by the results of the session. The influence of this participant on the course of the trades was felt mainly in the first half of the trades, when the exchange rate of the American currency was quite steady at KZT142.73 per unit level. The conjuncture of the second part of the session was pretty different from that of the first part. Despite the activation of a number of buyers, under the growing supply the exchange rate of the dollar began to fall quickly and at the 33rd minute reached the minimum at KZT142.68 per unit. Only in last minutes of the trades the sellers were able to raise the market by using mandatory client orders of counterparts, where the price of USD stabilized at KZT142.70. The results of the trades show that the market of the dollar maintains its balance, and insignificant growth in the exchange rate of the tenge was caused by a local increase in USD supplies of the bank clients. One hour after closing of the morning session on interbank over-the-counter market of Kazakhstan dollar was quoted at KZT142.66/70 per unit. Two hours later - KZT142.66/69. At the day session of KASE with TOD payment terms at 12:30PM the dollar was quoted at KZT142.66/70 per unit. Deutsche mark, morning session, TOD: no deals. Closing demand - KZT67.73 for a mark, no offer. Euro, morning session, TOD: no deals. Closing quotations were absent.