XN000022-1993-01-16 — Page 8

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SATURDAY, JANUARY 16, 1993

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

**

$ MILLION

OPENING BALANCE IN THE ACCOUNT

1,750

REVERSAL OF LAF

-250

BALANCE AFTER REVERSAL OF LAF

1,500

NET INJECTION/WITHDRAWAL TODAY

NIL

EFFECT OF LAF TODAY

-350

CLOSING BALANCE IN THE ACCOUNT

1,150

LAF RATE 2.00 BID/4.00 OFFER