Net gold reserves of National Bank of Kazakhstan have decreased over February, 2008 to $19,040.4 m. (-0.6%)

/IRBIS, Dinara Mukasheva, March 4, 08/ - 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 over February 2008 in comparison to January by 0.6% to $19,040.4 m. In the press-release is noted that purchasing of currency on internal currency market, inflows of currency on the accounts of Government in National Bank, were offset by the operations of enhancing the assets of the national Fund that services the external debt of the Government. Furthermore, the rests on correspondent accounts of second tier banks in foreign currency in National bank decreased. As a result, the net currency reserves (NCR) decreased by $213.3 m.; assets in gold increased by $98.6 m. as the result of growth of its price on world markets by 4.9%. International reserves of the country as a whole (in current prices) including money of National funds (by preliminary data $22,579.0 m.) made $41,624.7 m. Growth to the previous month made 2.2%. Growth of net foreign reserves of the National Bank in February 2008 had caused the widening of monetary base by 4.6% (or by KZT70.0 bn.). Data on the dynamics of the National Bank's international reserves and monetary base (current prices) are given below. -------------------------------------------------------------------------------------------------- Change (in %) --------------------------------------- As of Feb As of Jan As of Dec. 29, 07 As of Feb Indicator 29, 08 31, 08 28, 07 ---------------------------------------------- --------- --------- ----------------- --------- Net international reserves, $m 19,040.4 -0.6 +9.5 -12.8 including: net assets in hard currency* 16,931.2 -1.2 +9.0 -16.9 Gold 2,109.2 +4.9 +13.9 +43.9 Monetary base, KZT bn. 1,579.5 +4.6 +7.9 -0.5 Narrow monetary base, KZT bn.** 1,531.9 +2.4 +5.3 +8.3 Term deposits of STB in National Bank, KZT bn. 47.6 +253.5 +379.6 -72.6 KZT/USD (at the end of the period) 120.9 +0.5 +0.5 -2.3 Price for gold (per 1 Troy ounce in USD) 969.0 +4.9 +17.0 +43.1 -------------------------------------------------------------------------------------------------- * 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. [2008-03-04]