XN000022-1992-07-24 — Page 12

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HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

****

$ MILLION

OPENING BALANCE IN THE ACCOUNT

1,388

REVERSAL OF LAF

BALANCE AFTER REVERSAL OF LAF

-400

988

NET INJECTION/WITHDRAWAL TODAY

NIL

EFFECT OF LAF TODAY

CLOSING BALANCE IN THE ACCOUNT

+270

1,258

LAF RATE 2.00 BID/4.00 OFFER TWI 109.8 **0.0* 24.7.92

HONG KONG GOVERNMENT EXCHANGE FUND)

FRIDAY, JULY 24, 1992

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

2.82 PCT

16 MONTHS

2311

6.25

103.30 3.68

1 MONTH

2.57 PCT

19 MONTHS

2402

5.50

3 MONTHS

2.51 PCT

22 MONTHS

2405

5.50

102.30

102.30 4.00

4.21

6 MONTHS

2.76 PCT

12 MONTHS 3.41 PCT

TOTAL TURNOVER OF BILLS AND BONDS

CLOSED 24 JULY 1992

18,207 MN