Banxico: International reserves at a new historical maximum

MEXICO CITY.- Due to the depreciation of the peso once morest the dollar by volatility in the foreign exchange marketfollowing the election results with the majority in Congress for the party in power, the international reserves rose in value and touched a new all-time high.

He Bank of Mexico (Banxico) reported that in the week ending June 7, 2024, these assets registered an increase of 547 million dollars, bringing their balance at the close of last week to 219 thousand 273 million dollars.

The above indicates a new historical maximum for the country’s reserves held by Banxico that serve as financial shield to face a possible abrupt capital flight and any external shock.

According to him Central InstituteThe increase is mainly explained by the change in the valuation of the Bank of Mexico’s international assets.

So far this year, reserves have reported an accumulated increase of 6,512 million dollars.

Circulation of banknotes and coins

On the other hand, Banxico announced that the circulation of banknotes and coins in the economy had an increase in the first week of June.

According to reports from the Mexican Central Bankthe demand for cash by the general public as a means of payment, increased by 2,901 million pesos in the week ending June 7.

With this, the so-called monetary base reached a total balance of 2 trillion 992 thousand 696 million pesos.

He highlighted that this figure implied an annual variation of 11.4% and meant an increase of 306 thousand 110 million pesos compared to the same date in 2023.

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