In first half of March net gold and foreign currency reserves of Kazakhstan fell to $1.479 bln

/IRBIS, March 16, 00/ - In its #009 press-release distributed on March 15, 2000 the National Bank of Kazakhstan informs that gross gold and currency reserves of Kazakhstan fell to $1.903 bln and net reserves down to $1.479 bln, which in current prices corresponds to 3.0% and 2.3%, respectively. The press-release reads that "$58.1 mln decrease in international reserves was due to a reduction in currency reserves by $54.4 mln and gold reserves by $3.7 mln (due to 1.3% decrease in its price on international markets). Reduction in currency reserves was caused by servicing the external debt of the Ministry of finance and the National Bank, and by the operations of the National Bank on domestic currency market". It is also said the monetary base of the country rose KZT1.9 bln (1.8%) in the first half of March. Following is the table which shows international reserves of the National Bank of Kazakhstan and the monetary base as of December 19, 1999, and contains data for December 10: In current prices In real terms* --------------------- --------------------- March 3,00 Feb.29,00 March 3,00 Feb.29,00 ----------------------------- ---------- --------- ---------- --------- Gross international reserves, mln USD 1,903.3 1,961.4 1,904.2 1,955.7 including: - assets in hard currency 1,381.0 1,435.4 1,381.0 1,435.4 - gold 522.3 526.0 523.3 520.3 Net international reserves, mln USD ** 1,479.1 1,513.3 1,480.1 1,507.6 Money base, bln tenge 105.1 103.2 105.1 103.2 USD/KZT(at the end of period) 141.30 140.15 138.20 138.20 Price of gold (for 1 troy ounce, USD) 290.30 294.00 290.85 290.85 ----------------------------- ---------- --------- ---------- --------- * Price of gold is shown for the end of 1999 ($290.85 per 1 troy ounce) ** Net international reserves is a difference between gross reserves and liabilities in hard currency.