XN000022-1992-07-10 — Page 18

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HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * * * *

FRIDAY, JULY 10, 1992

8 MILLION

OPENING BALANCE IN THE ACCOUNT

1,078

REVERSAL OF LAF

-90

BALANCE AFTER REVERSAL OF LAF

988

NET INJECTION/WITHDRAWAL TODAY

NIL

EFFECT OF LAF TODAY

+800

CLOSING BALANCE IN THE ACCOUNT

1,788

LAF RATE 2.00 BID/4.00 OFFER TWI 110.0 +0.4 10.7.92

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

1.95 PCT

1 MONTH

2.09 PCT

16 MONTHS 2311

19 MONTHS

6.25

103.00

3.98

2402

5.50

101.89

4.31

3 MONTHS

2.32 PCT

22 MONTHS

2405

5.50

101.79

4. 48

6 MONTHS

2.77 PCT

12 MONTHS

3.53 PCT

TOTAL TURNOVER OF BILLS AND BONDS

CLOSED 10 JULY 1992

8,817 MN