In October net gold and foreign exchange reserves of Kazakhstan increased up to $2.295 bln

/IRBIS, Nov.2, 00/ - The National Bank of Kazakhstan (NBK) informs in its press-release #034 of October 31, 2000 that in October net gold and foreign exchange reserves of the country (difference between gross reserves and liabilities in hard currency) totaled $2.295 bln at current prices in comparison with $2.188 bln as of September 30, 2000. The press release reads that "in current prices net international reserves of the National Bank grew by 4.9%, or $107.3 mln. Despite the servicing of the external debt of the Ministry of Finance, the currency purchases of the National Bank on domestic market facilitated the increase in currency reserves by $128.9 mln. Gold assets decreased by $21.6 mln because of a decrease in its price on international markets by 3.7%". National bank also reports that "growth in net international assets of the National Bank caused the monetary base to expand by 12.6% (or KZT17 bln)". Following is the table that describes the dynamics of the international reserves of the National Bank of Kazakhstan and that of the monetary base during the last month (at current price): --------------------------------------------------------------------- As of Oct.31, 00 As of Sep.30, 00 ----------------------------------- ---------------- ---------------- Net international reserves, mln USD 2,295.2 2,187.9 including: foreign exchange assets 1,812.4 1,683.5 gold 482.7 502.5 Monetary base, bln KZT 152.4 135.4 USD/KZT (at the end of period) 142.65 142.75 ---------------------------------------------------------------------