Reserve Money Contracts 1.2% On Weekly Basis

The Reserve Bank Of India (RBI) has reported that currency in circulation fell by 0.3% on the week to stand at Rs 29.68 lakh crore as on July 23, 2021. The central bank stated further that the overall reserve money also contracted by 1.2% on the week to Rs 36.89 lakh crore. Currency in circulation rose around 11.10% on a year ago basis compared to 22.80% growth at the same time last year. In the current fiscal, the currency in circulation has gone up by 4% so far while the reserve money has edged up by 2.5%.

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