XN000022-1991-12-24+25 — Page 2

TUESDAY, DECEMBER 24, 1991

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HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * *

DATE

$ MILLION

CLOSING BALANCE IN THE ACCOUNT ON

23.12.91

500

EFFECT OF FORWARDS TO BE SETTLED ON

EFFECT OF OPERATIONS THIS MORNING

EFFECT OF OPERATIONS THIS AFTERNOON

24.12.91

+20

-20

NEUTRAL

TRADE WEIGHTED INDEX 109.5 -0.1* 24.12.91

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

1 MONTH

4.20 PCT

23 MONTHS 2311

6.25

102.10

5.13

3.90 PCT

3 MONTHS

3.90 PCT

6 MONTHS

3.95 PCT

12 MONTHS

4.25 PCT

TOTAL TURNOVER OF BILLS AND BONDS

CLOSED 24 DECEMBER 1991

-

1,165MN

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