Decline in international reserves of National Bank in January, 2009

Sale of foreign exchange on domestic foreign exchange market and the external debt of the Government were partially neutralized by incoming of foreign currency on the account of the Government and the increase in balances of correspondent accounts of the second-tier banks in in foreign exchange at the National Bank. As a result net foreign exchange reserves decreased by USD 1 191.9 mln in January, 2009. Gold assets increased up to USD 27 963.8 mln as a result of the growth of its price at the international markets up to 1.6%. In total, international reserves of the country including money of the National Fund (according to preliminary data ? USD 27 963.8 mln) decreased by 1.1% and amounted to USD 46 244.4 mln during the month. The monetary base amounted to KZT 2 032.4 bln and increased by 38.1% in January, 2009.