National Bank gold reserves grew 2.1 %, make $19,797.0 m. in May 2009

/IRBIS, Dinara Mukasheva, June 10, 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 increased 2.1 % to $19,797.0 m. in Mayl 2009. It is noted in the press release that purchasing of currency on the internal currency market and 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 were partially neutralized by operations for servicing of external debt of the Government. In May, international reserves of the country as a whole (in current prices), including money of National Funds (by preliminary data $23.1 bn.) increased by 2.6 % to $43.0 bn. since the beginning of the month (since year beginning fall by 9.2 %). At that, assets of the National Fund in national currency made KZT771.2 bn. including KZT600 bn at the expense of bonds purchase of NWF Samruk-Kazyna and NA KazAgro in portfolio of the National Fund. For April 2009 monetary base reduced by 2.0 % to KZT6,556.0 bn. at the expense of decreasing domestic assets of banking system (since year beginning - increase by 4.6 %). For April, 2009 cash in circulation grew by 4.1 % to KZT747.2 bn. (since year beginning - decrease by 12.9 %), at that, deposits in banking system reduced by 2.7 % to KZT5,808.8 bn. The growth of cash in circulation on deposits rates reducing conditioned decreasing of deposits in monetary base structure from 89.3 % in March to 88.6 % in April, 2009. Money multiplier was 2.99 in April 2009. Data on the dynamics of the National Bank's international reserves and monetary base (current prices) are given below. ------------------------------------------------------------------- Change (in %) -------------------------- May for a since year for a Indicator 2009 month beginning year ------------------------------ --------- ----- ---------- --------- Net international reserves, $m 19,797.00 +2.1 +13.8 -7.8 including: net assets in hard currency* 17,586.40 +1.3 +13.2 -10.0 Gold 2,259.40 +8.9 +22.0 +16.4 Monetary base, KZT bn. 2,261.30 +3.1 +54.4 +33.4 Narrow monetary base, KZT bn. 2,001.70 -0.8 +37.6 +29.1 KZT/USD (at the end of 933.10 +29.3 94.0 times 6.5 times the period) Price for gold (per 1 Troy 150.44 -0.1 +25.1 +24.9 ounce in USD) ------------------------------------------------------------------- * net assets in hard currency is difference between gross assets and liabilities in hard currency; [2009-06-10]