Mexico’s Foreign Reserves Rise by $236 Million

laht.com

MEXICO CITY – Mexico’s foreign reserves rose by $236 million last week to $190.42 billion, the Bank of Mexico said.

Gold and foreign currency reserves increased in the week ending Aug. 1 mainly due to a sale of $350 million by the federal government to the Bank of Mexico, as well as a rise of $114 million in the value of the central bank’s foreign assets.

Reserves have grown by $13.9 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 15.08 billion pesos (about $1.14 billion) to 888.21 billion pesos (some $67.18 billion) last week, the central bank said.

The money supply has contracted by 29.65 billion pesos ($2.24 billion) since Jan. 1.