XN000022-1992-09-02 — Page 10

WEDNESDAY, SEPTEMBER 2, 1992

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * * *

MILLION

OPENING BALANCE IN THE ACCOUNT

1,500

REVERSAL OF LAF

NIL

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 108.3 -0.2* 2.9.92

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

2.37 PCT

15 MONTHS

2311

6.25

103.47

3.32

1 MONTH

2.40 PCT

18 MONTHS

2402

5.50

102.72 3.60

3 MONTHS

2.45 PCT

21 MONTHS

2405

5.50

102.73 3.87

6 MONTHS

2.64 PCT

24 MONTHS

2408

4.375

100.73

4.02

12 MONTHS

3.10 PCT

TOTAL TURNOVER OF BILLS AND BONDS

-

6,876 MN

CLOSED 2 SEPTEMBER 1992