XN000022-1993-07-07 — Page 12

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HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

WEDNESDAY, JULY 7, 1993

$ MILLION

OPENING BALANCE IN THE ACCOUNT

REVERSAL OF LAF

BALANCE AFTER REVERSAL OF LAF

NET INJECTION/WITHDRAWAL TODAY

EFFECT OF LAF TODAY

2,800

NIL

2,800

NIL

-220

CLOSING BALANCE IN THE ACCOUNT

LAF RATE 2.00 BID/4.00 OFFER

2,580

TWI 112.5

*-0.1* 7.7.93

EF BILLS

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUR

COUPON PRICE YIELD

1 WEEK

2.55 PC'T

13 MONTHS

2408

4.375

100.50 3.95

1 MONTH

3.02 PCT

16 MONTHS

2411

4.625

100.78 4.07

3 MONTHS

3.27 PCT

19 MONTHS

2502

4.75

100.84

4.25

6 MONTHS 3.50 PCT

12 MONTHS

22 MONTHS

2505

3.75

98.87

4.44

3.87 PCT

TOTAL TURNOVER OF BILLS AND BONDS

—

32,434 MN

CLOSED JULY 7, 1993