THE NET FOREIGN EXCHANGE RESERVES OF KAZAKHSTAN AGAIN DECREASED IN THE LAST WEEK

/IRBIS, Sep.27, 99/ - According to the National Bank of Kazakhstan press release #059 of September 27 the net foreign exchange reserves of the National Bank in current prices have decreased from $ 1,041.9 million (September 17, 99) to $1,039.4 million (September 24, 99). The gross foreign exchange reserves of Kazakhstan have amounted to $1,569.0 million and have not changed in comparison with September 17. Table describing the National Bank international reserves and monetary base as of September 24, 1999, with the data from the previous National Bank press release (September 17) is given below: In current prices In fixed prices* Sep.24, 99 Sep.17, 99 Sep.24, 99 Sep.17, 99 ------------------------ ---------- ---------- ---------- ---------- Gross international reserves, million USD 1,569.0 1,569.4 1,610.0 1,623.5 Including: Assets in hard currency 1,119.9 1,133.6 1,119.9 1,133.6 gold 449.1 435.8 490.1 489.9 Net international reserves. million USD ** 1,039.4 1,041.9 1,080.4 1,096.1 Monetary base. billion tenges 87.97 87.6 87.97 87.6 KZT/USD (at the end of period) 137.0 135.0 83.8 83.8 Price of gold (USD for 1 troy ounce) 263.40 255.70 287.45 287.45 ------------------------ ---------- ---------- ---------- ---------- * Prices for the end of 1998 ($287.45 for 1 oz.). ** Net international reserves is a difference between gross reserves and hard currency liabilities.