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Latino Daily News

Thursday December 26, 2013

Mexico’s Foreign Reserves Rise By $893 Million

Mexico’s Foreign Reserves Rise By $893 Million

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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.

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