As of November 30, 1999 net gold and foreign currency reserves of the National Bank of Kazakhstan reached $1.393 bln

/IRBIS, Dec.6, 99/ - The National Bank of Kazakhstan informs that gross gold and currency reserves of Kazakhstan reached $1,900.1 mln in current prices as of November 30, 1999 compared with $1,784.1 mln as of October 30, 1999. Net gold and currency reserves of Kazakhstan as of November 30 amounted to $1,393.4 mln, increase of $1,258.8 mln from October 30. National Bank informs that in November of this year, in current prices gross and net gold and international reserves grew 6.5 percent and 10.7 percent, respectively. Growth of $116.0 mln in international reserves was due to replenishment of currency reserves by $115.9 mln mainly by purchases in domestic currency market. Despite active operations of the National Bank with gold in international markets, in current prices gold assets rose insignificantly (by $0.1 mln) because fall of prices for gold. Following is the table which shows international reserves of the National Bank of Kazakhstan and the monetary base as of November 30, 1999, and contains data for October 30: In current prices In real terms* Nov.30, 99 Oct.30, 99 Nov.30, 99 Oct.30, 99 ----------------------------- ----------- ---------- ---------- ---------- Gross international reserves, million USD 1,900.1 1,784.1 1,892.0 1,764.2 including: - Assets in hard currency 1,379.7 1,263.8 1,379.7 1,263.8 - Gold 520.4 520.3 512.3 500.4 Net international reserves, million USD ** 1,393.4 1,258.8 1,385.3 1,238.9 Money base, billion tenge 96.9 92.7 96.9 92.7 USD/KZT(at the end of period) 138.0 140.6 83.8 83.8 Price of gold (for 1 troy ounce, USD) 292.00 298.85 287.45 287.45 ----------------------------- ----------- ---------- ---------- ---------- * Price of gold is shown for the end of 1998 ($287.45 per 1 troy ounce) ** Net international reserves is a difference between gross reserves and liabilities in hard currency.