Net gold and foreign exchange reserves of the National Bank of Kazakhstan in current prices decreased within the first half of November of 2002 to $3,022.4m

/IRBIS, November 18, , 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 the first half of November of 2002 to $3,022.4m relative to $3,083.6m in the beginning of the month. Reason of decreasing of gold and foreign exchange reserves, according to the National Bank's data, was external debt servicing of the Ministry of finance. These losses of GFER were partially neutralized by National Bank's operations at domestic money market. As the result there was reduction of net exchange reserves by $65.1m. Assets in gold increased by $3.9m as the result of increase of its price at external market by 0.6%. In constant prices net gold and foreign exchange reserves decreased by 2.1%, net assets in hard currency - by 2.6%, assets in gold increased by 0.1%. Decrease of net internal assets of the National Bank (increase of the volume of short-term notes of the National Bank in circulation) in the first half of November of this year was caused by compression of monetary base by KZT2.7bn or by 1.4%. In accordance with the National Bank's data country's international reserves including the National fund's money (according to preliminary data - $1,849.2m) equaled to $4,873.9m and rose by 2.0% within the first half of 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 Nov 15, 02 Oct 31, 02 Oct 15, 02 ---------------------------------- ---------- ---------- ---------- Net international reserves, $m 3,022.4 3,083.6 2,929.6 Including: Net assets in hard currency 2,464.0 2,529.1 2,375.5 Gold 558.4 554.5 554.1 Money base, KZTbn 189.3 192.0 188.1 KZT/USD (at the end of the period) 154.34 154.35 154.30 ------------------------------------------------------------------- Net assets in foreign exchange is the difference between gross assets and liabilities in hard currency. [2002-11-18]