In Februry net Gold-currency Reserve of Kazakhstan increased by 2.3% to $1,513

/IRBIS, Mar.02, 00/ - The National Bank of Kazakhstan informs, that on February 29, 2000 the gross international reserves of the National Bank have reached $1.961 bln. On January 31 they made $1.937 bln. The net international reserves have increased by $34 mln or by 2.3%. It is spoken in the message that the international reserve growth was stipulated by increase in currency reserves by $7.2 million mainly at the expense of the National Bank operations in the external market. Besides the $16.9 million gain in gold value was achieved due to growth in the world gold prices by 3.9%. It is marked in the press release that the money base of Kazakhstan by has reduced by February 29 by 2.4% to 103.2 billion tenges from 105.7 billion on January 31. The table describing the international reserves of the National Bank of Kazakhstan at November 12, 1999 is shown below: In current prices In real terms* -------------------- -------------------- Nov.24,99 Nov.16,99 Nov.24,99 Nov.16,99 ----------------------------- --------- --------- --------- --------- Gross international reserves, million USD 1 961.4 1 937.3 1 955.7 1 945.2 Including: Assets in a hard currency 1 435.4 1 428.2 1 435.4 1 428.2 Gold 526.0 509.1 520.3 517.0 Net international reserves, million USD ** 1 513.3 1 479.3 1 507.6 1 487.2 Money base, billion tenge 103.2 105.7 103.2 105.7 USD/KZT(at the end of period) 140.15 139.45 138.2 83.8 Price of gold (for 1 troy ounce, USD) 294.00 283.05 290.85 287.45 ----------------------------- --------- --------- --------- --------- * Price of gold is specified at the end of 1998 ($290.85 per 1 troy ounce); ** Net international reserves are difference between gross reserves and the hard currency obligations.