XN000022-1993-07-12 — Page 24

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HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* *

MONDAY, JULY 12, 1993

$ MILLION

OPENING BALANCE IN THE ACCOUNT

REVERSAL OF LAF

BALANCE AFTER REVERSAL OF LAF

NET INJECTION/WITHDRAWAL TODAY

EFFECT OF LAF TODAY

CLOSING BALANCE IN THE ACCOUNT

LAF RATE 2.00 BID/4.00 OFFER

1,665

+1,135

2,800

NIL

+95

2,895

TWI 113.1 *+0.2* 12.7.93

EF BILLS

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE COUPON PRICE

YIELD

1 WEEK

3.05 PCT

13 MONTHS

2408

4.375 100.50

3.94

1 MONTH

3 MONTHS

6 MONTHS

3.11 PCT

3.29

16 MONTHS

2411

4.625

100.72

4.11

PCT

19 MONTHS

2502

4.75

100.84

4.24

3.49 PCT

22 MONTHS

2505

3.

.75

98.86

4.45

12 MONTHS

3.80 PCT

TOTAL TURNOVER OF BILLS AND BONDS

15,022 MN

CLOSED 12 JULY 1993