Mexico’s foreign reserves rise by $364 mn

Gold and foreign currency reserves rose in the week ending Oct. 10 mainly due to a rise in the value of the central bank’s foreign assets.

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Reserves have grown by $14.31 billion since Jan. 1, the Bank of Mexico said in a statement.

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The M1 money supply, which includes currency, coins and demand deposits, contracted by 3.72 billion pesos (about $277 million) to 889.39 billion pesos (some $66.22 billion) last week, the central bank said.

The money supply has contracted by 28.48 billion pesos ($2.12 billion) since Jan. 1.

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