Net gold and foreign exchange reserves of the National Bank of Kazakhstan in current prices decreased within October of 2002 to $3,083.6m

/IRBIS, November 7, 02/ - In accordance with the press-release of the National Bank of Kazakhstan (NBK) distributed today its net international reserves (GFER) not including money of the National Fund of Kazakhstan at current prices decreased within October of 2002 to $3,083.6m in comparison with $3,130.6m in the beginning of the month. In the beginning of October there was significant decrease of NGFER as a result of redemption by the Ministry of finance of eurobonds of 1997. As a whole in October total sum of payments on external debt due to National Bank's gold and foreign exchange reserves totaled $405.1 m, including current payments on servicing of external debt of the Government. This decrease was almost entirely compensated by the National Bank's transactions at domestic money market and currency inflow to accounts of the Ministry of finance and banks and non-banking financial organizations. As the result there was reduction of net exchange reserves (by $39.7 m). Assets in gold decreased by $7.3 m as the results of its price decrease at foreign market by 1.7%. Growth of net internal assets of the National Bank in the first half of October of 2002 caused expansion of monetary base by KZT8.3bn or by 4.5%. In accordance with the National Bank's data country's international reserves including the National fund's money (according to preliminary data - $1,690.4m) equaled to $4,776.4m and fell by 0.5% within the month. The table below presents the dynamics of the National Bank's international reserves and its monetary base (current prices). --------------------------------------------------------------------- As of As of As of Indicator Oct 31, 02 Oct 15, 02 Sep 9, 02 ---------------------------------- ---------- ---------- --------- Net international reserves, $m 3,083.6 2,929.6 3,130.6 Including: Net assets in hard currency 2,529.1 2,375.5 2,568.8 Gold 554.5 554.1 561.8 Money base, KZTbn 192.0 188.1 183.7 KZT/USD (at the end of the period) 154.35 154.30 154.55 --------------------------------------------------------------------- Net assets in foreign exchange is the difference between gross assets and liabilities in hard currency. [2002-11-07]