Last week net Gold-currency Reserve of the National Bank of Kazakhstan increased to $1.410 billion

/IRBIS, Nov.29, 99/ - The National Bank of Kazakhstan informs in the press release #074: 'During last week from November 19 till November 26 the gross and the net international reserves of the National Bank have increased by 4.3% and 5.9% correspondingly. A growth in the gross reserves by $78.7 million was stipulated by increase in the foreign currency reserves of $58.2 million (substantially due to purchase in the home market) and by increase in the gold reserves by $20.4 million. The last is caused by the 1.7% gold price increase in the last week and also by the swap transaction of the National Bank in the international market'. Also the press release informs, that the last week's increase in the international reserves has stipulated the money base increase by 1.9% or be 1.8 billion tenges. The table describing the international reserves of the National Bank of Kazakhstan as of November 26 and November 19, 1999 is shown below: In current prices In real terms* Nov.26, 99 Nov.19, 99 Nov.26, 99 Nov.19, 99 ----------------------------- ---------- ---------- ---------- ---------- Gross international reserves, million USD 1,924.9 1,846.2 1,905.2 1,835.4 Including: - Assets in a hard currency 1,392.9 1,334.7 1,392.9 1,334.7 - Gold 532.0 511.6 512.3 500.8 Net international reserves, million USD ** 1,410.4 1,332.3 1,390.7 1,321.5 Money base, billion tenge 97.4 95.6 97.4 95.6 USD/KZT(at the end of period) 138.2 139.8 83.8 83.8 Price of gold (for 1 troy ounce, USD) 298.50 293.65 287.45 287.45 ----------------------------- ---------- ---------- ---------- ---------- * Price of gold is specified at the end of 1998 ($287.45 per 1 troy ounce) ** Net international reserves is a difference between gross reserves and the hard currency obligations.