MEXICO CITY – Mexico’s foreign reserves rose by $1.87 billion last week to $190.27 billion, the Bank of Mexico said.Gold and foreign currency reserves increased in the week ending June 27 mainly due to the sale of $1.5 billion by state-owned oil giant Petroleos Mexicanos (Pemex) to the central bank.
Reserves have grown by $13.75 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 8.12 billion pesos (about $625 million) to 876.94 billion pesos (some $67.5 billion) last week, the central bank said.
The money supply has contracted by 49.93 billion pesos ($3.84 billion) since Jan. 1.
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