Mexico’s Foreign Reserves Fall by $308 mn

Gold and foreign currency reserves rose in the week ending Nov. 7 mainly due to a sale of dollars to the federal government and a change in the value of the central bank’s foreign assets.

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The M1 money supply, which includes currency, coins and demand deposits, expanded by 1.3 billion pesos (about $96.4 million) to 909.91 billion pesos (some $67.4 billion) last week, the central bank said in a statement.

The money supply has contracted by 7.96 billion pesos ($590 million) since Jan. 1.

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