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Latino Daily News

Wednesday July 16, 2014

Mexico’s Foreign Reserves Rise by $123 Million

Mexico’s Foreign Reserves Rise by $123 Million

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Mexico’s foreign reserves rose by $123 million last week to $190.34 billion, the Bank of Mexico said.

Gold and foreign currency reserves increased in the week ending July 11 mainly due to a rise in the value of the central bank’s assets.

Reserves have grown by $13.81 billion since Jan. 1, the Bank of Mexico said in a statement.

The M1 money supply, which includes currency, coins and demand deposits, expanded by 2.3 billion pesos (about $180 million) to 880.91 billion pesos (some $67.97 billion) last week, the central bank said.

The money supply has contracted by 36.96 billion pesos ($2.85 billion) since Jan. 1.

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