Mexico's foreign reserves fall by $1 billion

Mexico's foreign reserves declined by $1.01 billion to $187.33 billion last week, the Bank of Mexico said on Wednesday.

Gold and foreign currency reserves fell in the week ending August 21 mainly due to the daily auctions of dollars without a minimum price, Efe quoted the central bank as saying.

Foreign reserves have fallen by $5.9 billion since the end of 2014, the Bank of Mexico said in a statement.

The M1 money supply, which includes currency, coins and demand deposits, fell by about $503 million to some $62.57 billion last week, the central bank added.