Mexico's Foreign Reserves Rise by $98 MN

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Mexico City, Jun 18 (EFE).- Mexico's foreign reserves rose by $98 million last week to $188.23 billion, the Bank of Mexico said.

Gold and foreign currency reserves increased in the week ending June 13 mainly due to a rise in the value of the central bank's assets.

Reserves have grown by $11.71 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 9.44 billion pesos (about $727 million) to 881.04 billion pesos (some $67.77 billion) last week, the central bank said.

The money supply has contracted by 36.83 billion pesos ($2.83 billion) since Jan. 1.

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