National Bank gold reserves decrease 6.0 %, make $18,235.9 m. in January 2009

/IRBIS, Dinara Mukasheva, February 4, 09/ - The National Bank of Kazakhstan disseminated the press release informing net international reserves (GFER) of the National Bank, excluding money of the National Fund of the Republic of Kazakhstan, in current prices decreased 6.0 % to $18,235.9 m. in January 2009. It is noted in the press release that selling of currency on the internal currency market and operations for servicing of external debt of the Government were partially neutralized by inflows of currency on the accounts of Government in the National Bank and increase of remains on correspondent accounts of commercial banks in foreign currency in the National Bank. As a result, net currency reserves (NCR) decreased by $1,191.9 m. in January 2009. Assets in gold increased by $31.6 m. in January 2009 as a result of increase of its price on the world markets by 1.6 %. International reserves of the country as a whole (in current prices), including money of National Funds (by preliminary data $27,963.8 m.) decreased by 1.1 % to $46,244.4 m. for the month. Including funds of National Welfare Fund Samruk-Kazyna on tenge correspondent accounts of separate commercial banks in the National Bank caused expanding of monetary base. 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 As of As of Jan. Dec. Jan. Indicator 31, 09 31, 08 31, 08 ------------------------------ ---------- --------- -------- Net international reserves, $m 18,235.90 -6.0 +4.9 including: net assets in hard currency* 16,203.70 -6.9 +4.3 Gold 2,032.20 +1.6 +9.7 Monetary base, KZT bn. 2,032.40 +38.1 +38.8 KZT/USD (at the end of the period) 121.47 +0.6 +1.0 Price for gold (per 1 Troy ounce in USD) 878.84 +1.6 +6.1 ------------------------------------------------------------ *net assets in hard currency is difference between gross assets and liabilities in hard currency; [2009-02-04]