Dollar market at KASE demonstrates preserved priority of STB's demand for USD

/IRBIS, August 27, 03/ - Today the next morning trades in U.S. dollar were held at Kazakhstan Stock Exchange (KASE) on TOD payment term. A total of 18 banks participated in the trades. The trades opened at KZT147.00 per dollar. A total of 107 deals were made. Weighted average exchange rate equaled to 147.26 (+0.16) per unit. Volume of the session - $26.685 m. (-$2.365 m.).At closing of the session quotations were KZT147.28/29 per dollar. The morning session has preserved the activity of participants and the market's conjuncture. The market opened on the previous level, and due to the big demand of six banks tried to raise the market rate of dollar, which succeeded only 3 minutes before closing of the session. As a whole morning trades didn't bring anything new in the disposition of participants either. STB's dollar offer remains on very law level and the dynamics of the trade is still supported and regulated by the country's head bank on 147.26. Today the market was standing very firmly on 147.26, with the decreasing of the rate only by one point. And in this range the session has passed. In spite of double numerical superiority of the purchasers above the sellers it wasn't possible to cause the abrupt unilateral change of American currency exchange. The main volume of dollar purchase is formed by three banks. There is the impression that the market is being prepared for moving down. That's why banks sell dollar in limited volumes. Judging on the results of the session no considerable changes occur at dollar market. The formed tendency, having taken the impulse in the beginning of the trade week strives for its' development. At closing of the morning session out of stock exchange dollar was at KZT147.23/33, one hour later - 147.28/38. At the day trades of KASE at 12:30 p.m. dollar was at 147.30/35, the last deal was made at 147.33. [2003-08-27]