Net gold reserves of National Bank of Kazakhstan in current prices totaled $12,645.3 m. as of October 16, 2006

/IRBIS, Natalya Khoroshevskaya, October 18, 06/ - The National Bank of Kazakhstan has spread the press release, which says, that net international reserves (GFER) of the National bank excluding money of the National Fund of the Republic of Kazakhstan in current prices decreased by 6.1% in the first half of October 2006 and totaled $12,645.3 m. Press release notes that external debt service of the Finance Ministry, conducting operations on replenishment of assets of the National fund and the sale of currency on the domestic exchange market, despite the receipt of currency on accounts of the Government, brought to reduction of net exchange reserves by $777.2 m. Assets in gold decreased by $45.9 m. as a result of reduction of its price on world markets by 3.96%. The country's international reserves as a whole (in current prices), i.e. including money of the National Fund (by preliminary data $11,803.7 m.), increased relative to the previous month by 2.1% to $24,452.9 m. as of October 16 of the current year. Increase of net international reserves of the National Bank in first half of October 2006 stipulated monetary base widening by 9.7% or by KZT116.1 bn. Data about the dynamics of the National Bank's international reserves and monetary base (current prices) are given below. ----------------------------------------------------------------------------- as of as of as of Indicator Oct 16, 06 Sep 29, 06 Sept 15, 06 ---------------------------------------- ---------- ---------- ----------- Net international reserves, $m 12,645.3 13,468.4 13,208.4 including: net assets in hard currency* 11,534.0 12,311.2 12,067.4 gold 1,111.3 1,157.2 1,141.0 Monetary base, KZT bn. 1,080.1 1,196.2 1,124.0 Narrow monetary base, KZT bn. 1,048.5 1,147.9 1,069.0 Term deposits of STB in 31.6 48.3 54.9 National Bank, KZT bn. KZT/USD (at the end of the period) 127.76 127.12 126.15 Price for gold (per 1 Troy ounce in USD) 577.90 601.75 593.40 ----------------------------------------------------------------------------- * net assets in hard currency is the difference between gross assets and liabilities in hard currency; ** narrow monetary base is the monetary base without taking into account fixed-time deposits of second tier banks in the National Bank of Kazakhstan. [2006-10-18]