Dollar's rate continues to fall at KASE because of sales of banks and their clients

/IRBIS, July 14, 03/ - Today the next morning trades in U.S. dollar were held at Kazakhstan Stock Exchange (KASE) on TOD payment term. A total of 15 banks participated in the trades. The trades opened at KZT146.50 per dollar. A total of 94 deals were made. Weighted average exchange rate equaled to KZT146.67 (-0.13) per unit. Volume of the session - $12.620 m (+$0.365 m). At closing of the session quotations were KZT146.67/68 per dollar. The new week did not bring anything new to dollar market in Kazakhstan. Volume of USD offer from outside of banks and their clients still exceeds similar by the origin demand. Unlike Friday there is impression that main offer volume today consisted of exporters' currency proceeds. As well as last week, STB, which bought the biggest volume of the currency, as a rule, were leading USD sellers at the stock exchange. During the whole active phase of the trade the market was demonstrating approximate balance within the price interval 146.67 - 146.68 due to one participant's supporting the market from below. Results of the session show that tenge's potential for further strengthening is still high. At closing of the morning session out of stock exchange dollar was at KZT146.67/76, one hour later - 146.63/72, almost two hours and a half - 146.63/72. At the day trades of KASE at 1:00 p.m. dollar was at 146.65/68, no deals were made yet. [2003-07-14]