XN000022-1993-07-28 — Page 8

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WEDNESDAY, JULY 28, 1993

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

$ 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

1,810

+190

2,000

NIL

-445

1,555

TWI 112.6 -0.1* 28.7.93

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

EF BILLS

TERMS

YIELD

TERM

ISSUE COUPON PRICE

YIELD

1 WEEK

2.40 PCT

13 MONTHS

2408

4.375 100.57

3.85

1 MONTH

2.68 PCT

16 MONTHS

2411

4.625

100.75

4.06

3 MONTHS

3.16 PCT

19 MONTHS

2502

4.75

100.74

4.30

6 MONTHS

3.48 PCT

22 MONTHS

2505

3.75

98.72

4.54

12 MONTHS

3.83 PCT

TOTAL TURNOVER OF BILLS AND BONDS

20,087 MN

CLOSED 28 JULY 1993