Net gold and foreign exchange reserves of the National Bank of Kazakhstan in current prices by October 15 of 2003 equaled to $4,777.4 m

/IRBIS, October 16, 03/ - The spread press-release of the National Bank of Kazakhstan says its net international reserves (GFER) excluding money of the National Fund of Kazakhstan decreased in current prices within in the first half of October of 2003 by 1.6% to $4,777.4 m. The press-release says that servicing of foreign debt of the Ministry of finance and currency sale with the purpose to replenish assets of the National fund for $181.0 mn contributed to the reduction of net gold reserves by $128.2 mn to $4,135.0. Assets in gold declined by $17.5 mn as a result of its price fall at world markets by 2.8%. According to the National Bank's data, the country's international reserves as the whole (in current prices), i.e. including the National Fund's money (according to preliminary data $2,967.0 m), increased within the first half of the month by 0.6% to $7,750.7 m Decrease of international reserves of the National Bank in the first half of October 2003 caused shrinkage of a monetary base by 3.9% (by KZT11.4 bn) to KZT283.1 bn. 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 15, 03 Oct 1, 03 Sep 15, 03 ---------------------------------- ---------- --------- ---------- Net international reserves, $m 4,777.4 4,923.1 4,702.4 Including: net assets in hard currency* 4,135.0 4,263.2 4,056.5 gold 642.4 659.9 645.9 Monetary base, KZT bn 283.1 294.5 275.0 KZT/USD (at the end of the period) 147.21 148.58 147.31 --------------------------------------------------------------------- * net assets in hard currency is the difference between gross assets and liabilities in hard currency. [2003-10-16]