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TUESDAY, AUGUST 13, 1991

HONG KONG GOVERNMENT EXCHANGE FUND

TUESDAY 20 AUGUST 1991

NEXT TENDER OF EXCHANGE FUND BILLS

ISSUE NUMBER

Q134

ISSUE DATE

21 AUG 91

MATURITY DATE

20 NOV 91

TENOR

91 DAYS

AMOUNT ON OFFER

HKD 500 + 100 MN

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS * * * * *

НКЕН

H171

21 AUG 91

19 FEB 92

182 DAYS

HKD 200 + 60 MN

DATE

$ MILLION

CLOSING BALANCE IN THE ACCOUNT ON

EFFECT OF FORWARDS TO BE SETTLED ON

EFFECT OF OPERATIONS THIS MORNING

EFFECT OF OPERATIONS THIS AFTERNOON

12.8.91

600

13.8.91

-69

+69

NEUTRAL

TRADE WEIGHTED INDEX 112.8 *-0.1 13.8.91

HONG KONG GOVERNMENT EXCHANGE FUND

CLOSING YIELDS OF EXCHANGE FUND BILLS

12.8.91

13.8.91

MATURING IN 1 WEEK

4.88 PCT

5.02 PCT

1 MONTH

5.14 PCT

5.25 PCT

3 MONTHS

5.40 PCT

5.5.5 PCT

6 MONTHS

5

.78 PCT

5.88 PCT

12 MONTHS

6.27 PCT

6.41 PCT

TOTAL BILLS TRANSFERRED

4,780 MN

5,190 MN

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