Reserve Money Slips 0.9% On Weekly Basis

The Reserve Bank Of India (RBI) reported that currency in circulation contracted by 0.1% on the week to stand at Rs 22.70 lakh crore as on 27th December 2019. The central bank noted further that the overall reserve money also slipped by 0.9% on the week to Rs 28.84 lakh crore. Currency in circulation rose around 12% on a year ago basis compared to 19.6% surge at the same time last year. In the current fiscal, the currency in circulation has grown by 6.2% so far while the reserve money gained by 4.1%.

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