Mexico ends 2013 with $176.52 billion in reserves

 globalpost.com

Mexico City, Jan 8 (EFE).- Mexico's foreign reserves rose by $13 billion in 2013, ending the year at $176.52 billion, the Bank of Mexico said.

Foreign reserves grew by $7 million last week, totaling $176.58 billion as of Jan. 3, the central bank said in a statement.

This was the 21st week with record reserves since the end of 2012, when Mexico's foreign reserves totaled $163.51 billion.

Foreign reserves include currency holdings and gold owned by the central bank, as well as foreign exchange from borrowing, among other sources.

The rise in reserves in 2013 was calculated by taking into account revenues at state-owned oil giant Petroleos Mexicanos, or Pemex, of $17.29 billion, federal government outlays of $425 million, a reduction of $3.72 billion from other operations, minus $144 million in liabilities of less than six months, the Bank of Mexico said.

The money supply, which includes currency, coins, demand deposits and cash in checking accounts, ended 2013 at 921.21 billion pesos (some $70.86 billion), but it had fallen to $913.09 billion pesos (some $70.23 billion) as of Jan. 3, the Bank of Mexico said.