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Latino Daily News

Wednesday January 1, 2014

Mexico’s Foreign Reserves Up $25 Million

Mexico’s foreign reserves rose by $25 million last week to $176.57 billion, the Bank of Mexico said.

Foreign reserves grew by $13.06 billion from Jan. 1 to Dec. 27, 2013, the central bank said in a statement.

The rise in reserves was caused by an increase in the value of assets held by the central bank.

The money supply expanded by 1.73 billion pesos (about $134 million) to 921.21 billion pesos (some $70.86 billion) last week, an annualized growth rate of 7.6 percent, the Bank of Mexico said.

The money supply increased by 75.19 billion pesos (about $5.78 billion) from Jan. 1 to Dec. 27, 2013, the central bank said.

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