Photo: Mexican economy
Mexico’s foreign reserves rose by $893 million last week to $176.55 billion, the Bank of Mexico said.
The rise in reserves was caused by a sale of dollars by state-owned oil giant Petroleos Mexicanos, or Pemex, to the central bank, with the transaction totaling $1 billion, monetary officials said in a statement.
Foreign reserves grew by $13.03 billion from Jan. 1 to Dec. 20, the central bank said.
The money supply expanded by 43.73 billion pesos (about $3.36 billion) to 919.47 billion pesos (some $70.83 billion) last week, an annualized growth rate of 9.2 percent, the Bank of Mexico said.
The money supply increased by 73.45 billion pesos (about $5.65 billion) from Jan. 1 to Dec. 20, the central bank said.