Net gold and foreign exchange reserves of National Bank of Kazakhstan in current prices totaled $23,397.3 m. as of July 31, 2007

/IRBIS, Dinara Mukasheva, August 3, 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 grew by 4.6% in July of year 2007 to $23,397.3 m. The press-release says that currency purchasing on domestic currency market and conduction of operations on servicing foreign debt of the Ministry of finance were cleared by currency inflow to the Government's accounts and by the increase of remains on correspondent accounts of second tier banks (STB) in foreign currency in the National Bank. That resulted in increase of net currency reserves by $1,037.9 m. As a result of conducted operations, assets in gold decreased by $12.4 m. despite of the growth of its price on the international markets by 2.81%. In constant prices net foreign reserves of National Bank of Kazakhstan grew by 4.4%, net assets in hard currency - by 5.0%, assets in gold decreased by 3.6%. Foreign reserves of country as a whole (in current prices), including money of National fund (according to preliminary data $18,084.9 m.) increased by 3.7% and made $41,493.4 m. Growth of the National Bank's net internal assets in July of 2007 caused expansion of the monetary base by 1.8% or by KZT29.7 bn. Data on the dynamics of the National Bank's international reserves and monetary base (current prices) are given below. ------------------------------------------------------------------------------- as of as of as of Indicator July 31, 07 June 16, 07 June 29, 07 ---------------------------------------- ----------- ----------- ----------- Net international reserves, $m 23,397.3 22,737.4 22,371.8 including: net assets in hard currency* 21,953.1 21,238.2 20,915.2 gold 1,444.2 1,499.2 1,456.6 Monetary base, KZT bn. 1,696.4 1,691.0 1,666.7 Narrow monetary base, KZT bn.** 1,678.2 1,636.4 1,598.1 Term deposits of STB in 18.2 54.55 68.5 National Bank, KZT bn. KZT/USD (at the end of the period) 123.61 121.99 121.66 Price for gold (per 1 Troy ounce in USD) 666.75 667.50 648.50 ------------------------------------------------------------------------------- * 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. [2007-08-03]