N e w s

Starting this year gold in gross and net international reserves of National Bank of Kazakhstan will be calculated on the basis on the price of the end of 1999 - $290.85 a troy ounce. In the press release of the Bank from February 16 it is stated that gross and net reserves international reserves of the Bank have increased in the period January 31 to February 15. Gross gold and currency reserves of Kazakhstan in prices on February 15 total $2.006.2 billion from $1.937.3 billion on January 31 (3.6% growth).

On February 15 currency reserves totaled $1.450.8 million from $1.428.2 million on January 31 (the $22.6 million growth is mostly due to domestic market transactions). Gold reserves on Feb 15 totaled $555.4 million from $509.1 nillion on Jan 31 (the $46.3 million growth due to the considerable rise of gold prices - by 9.1%). Net international reserves on Feb 15 current prices totaled $1.550.6 million from $1.479.3 million on Jan 31 (4.8% growth). In permanent prices gross and net international reserves grew by 1.2% and 1.7% respectively. Gold assets grew insignificantly.

It is reported in the release that the increase of external net assets of the National Bank over the period 31.01.00 to 15.02.00 which were almost completely compensated by the decrease of its internal net assets brought about the increase of cash resources by 0.7% (0.7 billion tenge).

Source: Finmarket