Mexico’s Foreign Reserves Increase by $48 Million

MEXICO CITY – Mexico’s foreign reserves increased by $48 million last week to $190.55 billion, the Bank of Mexico said.

Gold and foreign currency reserves increased in the week ending Aug. 15 mainly due to a rise in the value of the central bank’s foreign assets.

Reserves have grown by $14 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 10.44 billion pesos (about $800 million) to 893.47 billion pesos (some $68.46 billion) last week, the central bank said.

The money supply has contracted by 24.4 billion pesos ($1.87 billion) since Jan. 1.