Net gold and foreign exchange reserves of the National Bank of Kazakhstan in current prices totaled $8,673.8 m. as of May 31 of 2005

/IRBIS, Assel Omarova, June 3, 05/ - According to information of the National Bank of Kazakhstan, its net international reserves (GFER) excluding money of the National Fund of Kazakhstan decreased in current prices in May by 0.4% and as of May 31 of 2005 were equal to $8,673.8 m. The press-release says that, servicing external debt of the Ministry of finance and replenishment of the National Fund's assets were partially neutralized by currency purchasing by the National bank on domestic currency market. As the result net currency reserves have fallen by $7.5 m. Assets in gold have fallen by $27.7 m. as the result of made transactions and falling of its price on the world markets by 3.8%. According to National Bank's data, country's international reserves as the whole (in current prices), i.e. including money of the National Fund (according to preliminary data $5,172.6 m.), have fallen by 0.2% to $13.849.2 m. Growth of the National Bank's net internal assets (falling of Government's accounts volume) in May of 2005 caused expansion of the monetary base by 0.4% or by KZT2.1 bn. Below is data about the dynamics of the National Bank's international reserves and monetary base (current prices). --------------------------------------------------------------------- As of As of As of Indicator May 31, 05 Apr 16, 05 May 1, 05 ---------------------------------- ---------- ---------- --------- Net international reserves, $m 8,673.8 8,610.1 8,709.0 including: net assets in hard currency* 7,893.1 7,822.6 7,900.6 gold 780.7 787.5 808.4 Monetary base, KZT bn. 549.8 545.7 547.7 KZT/USD (at the end of the period) 132.49 131.89 131.77 --------------------------------------------------------------------- * net assets in hard currency is the difference between gross assets and liabilities in hard currency. [2005-06-03]