Net gold and foreign exchange reserves of National Bank of Kazakhstan in current prices totaled $21,730.0 m. as of August 15, 2007

/IRBIS, Dinara Mukasheva, August 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 7.1% in first half of August of year 2007 to $21,730.0 m. The press-release says that currency sales on domestic currency market and reduction of remains on correspondent accounts of second tier banks (STB) in foreign currency in the National Bank, servicing of external debt of ministry of finance, despite inflow of currency to accounts of Government had caused the decrease of net currency reserves. As a result net currency reserves (FCC) decreased by $1,668.5, assets in gold increased by $1.3 m. as the result of growth of its price on world markets by 0.1%. In constant prices net foreign reserves of National Bank of Kazakhstan decreased by 7.2%, net assets in hard currency - by 7.6%, assets in gold did not change. Foreign reserves of country as a whole (in current prices), including money of National fund (according to preliminary data $18,056.6 m.) decreased by 4.1% and made $39,799.6 m. Reduction of the National Bank's net internal assets in first half of August of 2007 caused stipulation of the monetary base by 3.2% or by KZT54.6 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 Aug 15, 07 July 31, 07 July 16, 07 ---------------------------------------- ---------- ----------- ----------- Net international reserves, $m 21,730.0 23,397.3 22,737.4 including: net assets in hard currency* 20,284.5 21,953.1 21,238.2 gold 1,445.5 1,444.2 1,499.2 Monetary base, KZT bn. 1,641.8 1,696.4 1,691.0 Narrow monetary base, KZT bn.** 1,636.2 1,678.2 1,636.4 Term deposits of STB in 5.6 18.2 54.55 National Bank, KZT bn. KZT/USD (at the end of the period) 125.50 123.61 121.99 Price for gold (per 1 Troy ounce in USD) 667.35 666.75 667.50 ----------------------------------------------------------------------------- * 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. [2007-08-20]