New York —
The last week of May the increase was 11,540 million pesos.
The economic crisis due to the health emergency of coronavirus caused an increase in the demand for cash in Mexico.
The Bank of Mexico reported this Tuesday that in total there are in circulation 1.8 billion pesos in coins and bills. The figure reached by the monetary base as of May 29, 2020 meant an increase of 294,828 million pesos with respect to the same date of the previous year. The last week of May the increase was 11,540 million pesos.
“The growth of the monetary base has increased due in part to factors associated with the sanitary measures implemented in the country, which would have increased the demand for cash by the public as a means of payment,” he said in a statement.
The amount of #remittances sent to Mexico during April 2020 was $ 2,861 million. Check the details here: https://t.co/SDd4k7wKhb pic.twitter.com/pzzx9ui1bP
– Banco de México (@Banxico) June 1, 2020
As for the international reserves, Banco de México reported that the balance was $ 187,316 million, that is, a weekly increase of $ 144 million. In the accumulated, 6,438 million dollars were recorded compared to the end of 2019.