Again dollar's rate at KASE tried to fix higher due to small volume of transactions

/IRBIS, April 4, 03/ - Today the next morning trades in U.S. dollar were held at Kazakhstan Stock Exchange (KASE) on TOD payment terms. A total of 12 banks participated in the trades. The trades opened at KZT152.00 per dollar. A total of 33 deals were made. Weighted average exchange rate equaled to KZT152.35 (+0.20) per unit. Volume of the session - $3.365 m (-$2.865 m). At closing of the session quotations were KZT152.31/35 per dollar. Almost the whole session was conducted in traders' positional game because the market was still volatile, and traders had no single opinion concerning the current. The market became active only on the 42nd minute of the trade. As the result almost the whole volume of transactions was made at the stock exchange within three minutes. But even in this time interval USD's price varied within the very wide corridor: from 152.28 to 152.40. In other words, weighted average rate, which has been formed by the results of the trade, really reflects the level of price compromise, which dealers achieved. As well as before, number of dollar purchasers at the trades significantly exceeded number of sellers. The group of the latter ones consisted mainly of two banks, but only one of them distinctly specialize in serving exporters. Results of the trade show that there are no really large volumes of exporters' currency proceeds. The market remains volatile and its conjuncture is formed mainly out of stock exchange. It's notable that under the formed circumstances day trades - as the most long ones are most impressive but not morning trades. At least during one month precisely during day trades fundament of the next day is formed, and KASE's morning session, as a rule, just proves results of previous additional one. At closing of the morning session out of the stock exchange dollar was at KZT152.31/36, one hour later - 152.24/30, two hours later - 152.26/32. At the day trades of KASE at 1:00 p.m. dollar was at 152.24/30, the last deal was made at 152.30. [2003-04-04]