National Bank of Kazakhstan has briefly characterized the Republic's GS market in November of 2003

/IRBIS, December 3, 03/ - According to the data of the National Bank of Kazakhstan, which were given in its monthly press-release dedicated to the current market situation, in November of 2003 issue volume of government securities (GS) of the Ministry of finance in comparison with October of 2003 decreased 2.5 times to KZT15.3 bn., and volume of securities in circulation increased by 7.5% to KZT176.9 bn. During November there held auctions only on mid-term securities: 5-, 7-, 9- and 10-year MEOKAM. Yield of 5-, 9- and 10-year MEOKAM fell from 6.19% (October 28, 03) to 6.18%, from 6.49% (October 13, 03) to 6.40% and from 6.58% (September 17, 03) to 6.50% correspondingly. Yield of 7-year MEOKAM remained on the level of 6.19%. Redemption of government securities of the Ministry of finance, including interest payment, in November of 2003 was KZT4.6 bn. Volume of National Bank's notes issue increased in November in comparison with October of the current year by 56.3 % to KZT30.0 bn., whereas their yield fell from 5.13% to 5.05%. Volume of National Bank's notes redemption in November was KZT35.8 bn. As the result of these transactions volume of notes in circulation equaled by the end of November to KZT177.3 bn., having decreased in comparison with previous month by 1.3%. Volume of National Bank's deals on direct repo transactions rose by 82% to KZT54.9 bn. Reverse repo transactions were not made. [2003-12-03]