Net gold and foreign exchange reserves of National Bank of Kazakhstan in current prices totaled $21,541.7 m. as of March 15, 2007

/IRBIS, Dinara Mukasheva, March 20, 07/ - 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 1.4% in first half of March 2007 to $21,541.7 m. The press-release says that servicing of external debt of Ministry of finance, operations of replenishment of assets of National fund, decrease of remains on correspondent accounts of second tier banks (STB) in foreign currency in National Bank and selling of currency on the county's internal currency market had caused the decrease of net currency reserves (NCR) by $257.8 m. The inflows of currency on the accounts of Government were insignificant. Assets in gold decreased by $46.1 m. as the result of decrease of its price on the world markets by 5.35%. The country's international reserves as a whole (in current prices), i.e. including money of the National Fund (by preliminary data $15,859.6 m.), increased by 0.03% and made $37,406.3 m. Growth of the National Bank's net internal assets (decrease of volume of short-term notes in circulation) in the first half of March 2007 caused expansion of the monetary base by 4.0% or by KZT64.3 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 Mar. 15, 07 Feb. 28, 07 Feb. 15, 07 ---------------------------------------- ----------- ----------- ----------- Net international reserves, $m 21,541.7 21,845.6 22,011.0 including: net assets in hard currency* 20,121.9 20,379.7 20,530.9 gold 1,419.8 1,465.9 ,1,480.1 Monetary base, KZT bn. 1,652.3 1,588.0 1,516.3 Narrow monetary base, KZT bn. 1,312.6 1,414.3 1,348.4 Term deposits of STB in 339.6 173.6 167.9 National Bank, KZT bn. KZT/USD (at the end of the period) 123.62 123.71 123.95 Price for gold (per 1 Troy ounce in USD) 640.75 677.00 668.25 ------------------------------------------------------------------------------- * net assets in hard currency is the difference between gross assets and liabilities in hard currency; ** narrow monetary base is the monetary base without term deposits of STB in the National Bank of Kazakhstan. [2007-03-20]