XN000022-1992-08-25 — Page 8

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TUESDAY, AUGUST 25, 1992

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

$ MILLION

OPENING BALANCE IN THE ACCOUNT

1,130

REVERSAL OF LAF

+370

BALANCE AFTER REVERSAL OF LAF

1,500

NET INJECTION/WITHDRAWAL TODAY

NIL

EFFECT OF LAF TODAY

NIL

CLOSING BALANCE IN THE ACCOUNT

1,500

LAF RATE 2.00 BID/4.00 OFFER TWI 108.8 -0.3* 25.8.92

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

1 MONTH

2.32 PCT

15 MONTHS 2311

6.25

103.30

3.51

2.46 PCT

18 MONTHS

2402

5.50

102.41 3.84

3 MONTHS

2.60 PCT

21 MONTHS

2405

5.50

102.41

4.08

6 MONTHS

2.78 PCT

24 MONTHS

2408

4.375

100.41

4.20

12 MONTHS

3.32 PCT

TOTAL TURNOVER OF BILLS AND BONDS

12,131 MN

CLOSED 25 AUGUST 1992