There is an objective parity between demand and supply at KASE trades in dollars

06.10.00 00:00
/IRBIS, Oct.6, 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). 19 banks participated in the trades. Today the trades in U.S. dollars opened at KZT142.51 per unit. Total of 58 deals were made. Weighted average dollar exchange rate equaled to KZT142.50 (+0.03) per unit. Volume of the session - $2.930 mln (+$2.425 mln). Exchange rate fluctuation during the trade - 0.06%. The trades were closed at KZT142.50/51 per dollar. After the calmness, observed yesterday, the currency traders became more active today. Along with the reappearance of the dollar supplies, that were obviously less than those observed a few days ago, there was the demand as well. The banks were quite active at buying the American currency. The monopolization degrees of both the demand and the supply was low. In general, the market was demonstrating an objective parity which was reached by the traders in half an hour. During that time the participants were engaged in position games. Some participants were confident in the objective growth of the dollar exchange rate, while others had opposite opinions. The result was a really compromise, where the dollar was traded within KZT142.48 - 142.51 interval at first, then, during the last 10 minutes the market stabilized at KZT142.50 level. Distinctive feature of the session is a complete absence of speculative component in the behaviors of the traders. The participants were either buying or selling dollars. As a whole, the market did not seem to be under the control of the clients. It was more likely that it were the banks that controlled the market. Some traders were selling dollars to participate in the offerings of MEKKAM-3 after a big borrowings of the National Bank and the Ministry of Finance conducted during the week. Others were buying with the confidence in the fact that too much USD has been sold already. The final conclusions regarding further changes in the market rates can be drawn only close to the closing of the market in the evening. So far, the situation is not clear. One hour after closing of the morning session on interbank over-the-counter market of Kazakhstan dollar was quoted at KZT142.46/50 per unit. Two hours later the quotations did not change. At the day session of KASE with TOD payment terms at 12:30PM the dollar quoted at KZT142.48/50 per unit, the last deal was made at KZT142.50. The volume of deals did not exceed $50 th. so far. Deutsche mark, morning session, TOD: no deals. Closing quotations - KZT63.30/70 for a mark. Euro, morning session, TOD: no deals. Closing quotations were absent.