XN000022-1992-01-02 — Page 6

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5

THURSDAY, JANUARY 2, 1992

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

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

31.12.91

500

2.1.92

-923

+923

NEUTRAL

TRADE WEIGHTED INDEX 109.1 -0.1 2.1.92

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

3.70 PCT

23 MONTHS 2311

6.25

102.16

5.09

1 MONTH

3.72 PCT

3 MONTHS

3.68 PCT

6 MONTHS 3.71 PCT

12 MONTHS

4.22 PCT

TOTAL TURNOVER OF BILLS AND BONDS

—

6,966 MN

CLOSED 2 JANUARY 1992