Net gold and foreign exchange reserves of the National Bank of Kazakhstan in current prices totaled $8,583.7 m. as of June 15 of 2005

/IRBIS, Assel Omarova, June 16, 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 the first half of June by 1.0% and as of June 15 of 2005 were equal to $8,583.7 m. The press-release says that, servicing external debt of the Ministry of finance and replenishment of the National Fund's assets and operations of the National Bank at internal currency market were partially neutralized by entries of foreign currency to accounts of the Government in National Bank. As the result net currency reserves have fallen by $110.2 m. Assets in gold increased by $20.1 m. as the result of made transactions and increase of its price on the world markets by 2.4%. 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 $5,157.4 m.), have fallen by 0.8% to $13.744.7 m. Growth of the National Bank's net internal assets (falling of Government's accounts volume) in the first half of June caused expansion of the monetary base by 0.8% or by KZT4.6 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 June 15, 05 May 31, 05 May 16, 05 ---------------------------------- ----------- ---------- ---------- Net international reserves, $m 8,583.7 8,673.8 8,610.1 including: net assets in hard currency* 7,782.9 7,893.1 7,822.6 gold 800.8 780.7 787.5 Monetary base, KZT bn. 554.5 549.8 545.7 KZT/USD (at the end of the period) 134.00 132.49 131.89 ----------------------------------------------------------------------- * net assets in hard currency is the difference between gross assets and liabilities in hard currency. [2005-06-16]