Dollar has fallen at KASE on account of increase of its offer volume

/IRBIS, June 27, 03/ - Today the next morning trades in U.S. dollar were held at Kazakhstan Stock Exchange (KASE) on TOD payment terms. A total of 11 banks participated in the trades. The trades opened at KZT147.90 per dollar. A total of 114 deals were made. Weighted average exchange rate equaled to KZT148.00 (-0.31) per unit. Volume of the session - $36.365 m (+$30.900 m). At closing of the session quotations were KZT148.00/01 per dollar. Volume of offer for dollar at KASE abruptly increased today. 8 traders came with big bids for big sales while demand of second tier banks and their clients was rather temperate. As the result almost since the very beginning of the trade USD's rate "stuck" to support level on 148.00, which was formed by one of trades participants. The whole demand for tenge was satisfied precisely at this price. 112 out of 114 conducted deals were conducted at this rate. 59% of the whole sold at KASE currency were purchased by one participant. Results of the session give evidence about the very high potential of tenge for further strengthening. It's obvious that till the end of the day dollar will be loosing points. At closing of the morning session out of the stock exchange dollar was at KZT147.99/148.01, one hour later - 147.91/96, one hour and a half later - at 147.84/148.04. At the day trades of KASE at 12:30 p.m. dollar was at 147.91/94, the last deal was made at 147.91. [2003-06-27]