Net gold reserves of the National Bank of Kazakhstan increased over first half of May 2008 by 1.2% and made $20,965.2 m.

/IRBIS, Dinara Mukasheva, May 19, 08/ - The National Bank of Kazakhstan disseminated the press release, which informs that the net international reserves (GFER) of the National Bank, excluding money of the National Fund of the Republic of Kazakhstan, in current prices increased over first half of May 2008 by 1.2% to $20,965.2 m. In the press-release is noted that purchasing of currency on internal currency market and inflows of currency on the accounts of Government in National Bank and also increase of remains on correspondent accounts of second tier banks in foreign currency in National Bank were partially neutralized by operations for servicing of external debt of the Government. As the result, net currency reserves (NCR) increased by $237.3 m., assets in gold decreased by $7.0 m. as result of decrease of its price on the world markets by 0.5%. International reserves of the country as a whole (in current prices), including money of National Funds (by preliminary data $23,680.7 m.) made $44,653.7 m. Growth to previous month made 1.4%. Increase of net internal assets of National Bank in first half of May, 2008 had caused the widening of monetary base by 9.4% or by KZT144.4 bn. Data on the dynamics of the National Bank's international reserves and monetary base (current prices) are given below. ----------------------------------------------------------------------------- Change (in %) relative to values ------------------------------ As of May As of Apr As of Dec As of May Indicator 15, 08 30, 08 29, 07 15, 07 ---------------------------------- --------- --------- -------- --------- Net international reserves, $m 20,965.2 +1.2 +20.6 -1.8 including: net assets in hard currency* 19,078.1 +1.3 +22.8 -4.0 Gold 1,887.1 +0.4 +1.9 +27.4 Monetary base, KZT bn. 1,678.6 +9.4 +14.6 +11.2 Narrow monetary base, KZT bn.** 1,599.1 +5.5 +10.0 +10.4 Term deposits of STB in 79.48 +334.3 +700.4 +28.5 National Bank, KZT bn. KZT/USD (at the end of the period) 120.57 +0.1 +0.2 +0.4 Price for gold (per 1 Troy 863.00 -0.5 +4.2 +28.0 ounce in USD) ----------------------------------------------------------------------------- * 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. [2008-05-19]