Net gold and foreign exchange reserves of the National Bank of Kazakhstan in current prices by November 1 of 2003 equaled to $4,747.1 m

/IRBIS, November 4, 03/ - In accordance with the press-release of the National Bank of Kazakhstan (NBK), which was spread today, its net international reserves excluding money of the National Fund of Kazakhstan in current prices decreased in October of 2003 by 3.6% to $4,747.1 m. The press-release says that servicing of external debt of the Ministry of Finance and sale of currency with the purpose to replenish the National Fund's assets by $283.8 m was partially offset by transactions of the National Bank on currency purchase at domestic foreign exchange market, which led to decrease of net currency reserves by $179.3 m. Assets in gold increased by $3.2 m as a result of operations conducted by the National bank and its price increase at world markets by 0.03%. According to the National Bank's data, the country's international reserves as a whole (in current prices), i.e. including the National Fund's money (according to preliminary data $3,083.6 m), increased during the month by 1.7% and amounted to $7,837.0 m. Reduction of net international reserves of the National bank in October 2003 caused the shrinkage of monetary base by 0.1% (by KZT334.5 m) to KZT294.1 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 Nov 1, 03 Oct 15, 03 Oct 1, 03 ---------------------------------- --------- ---------- --------- Net international reserves, $m 4,747.1 4,777.4 4,923.1 including: net assets in hard currency 4,083.9 4,135.0 4,263.2 gold 663.2 642.4 659.9 Monetary base, KZT bn 294.1 283.1 294.5 KZT/USD (at the end of the period) 148.03 147.21 148.58 -------------------------------------------------------------------- * net assets in hard currency is the difference between gross assets and liabilities in hard currency. [2003-11-04]