XN000022-1992-12-22 — Page 8

TUESDAY, DECEMBER 22, 1992

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * * * *

OPENING BALANCE IN THE ACCOUNT

REVERSAL OF LAF

BALANCE AFTER REVERSL OF LAF

NET INJECTION/WITHDRAWAL TODAY

EFFECT OF LAF TODAY

CLOSING BALANCE IN THE ACCOUNT

LAF RATE 2.00 BID/4.00 OFFER TWI 113.7 -0.1* 22.12.1992

HONG KONG GOVERNMENT EXCHANGE FUND

$ MILLION

1,800

-300

1,500

NIL

+300

1,800

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

3.16 PCT

15 MONTHS 2402

5.50

100.68

4.94

1 MONTH

3 MONTHS

3.80 PCT

18 MONTHS

2405

5.50

100.56

5.14

3.99 PCT

21 MONTHS 2408

4.375

98.58

5.35

6 MONTHS 4.14 PCT

12 MONTHS 4.63 PCT

24 MONTHS 2411

4.625

98.56

5.50

TOTAL TURNOVER OF BILLS AND BONDS

-

2,903 MN

CLOSED 22 DECEMBER 1992