Reserve money contracts 1.5% on week

The Reserve Bank of India (RBI) has reported that currency in circulation rose 0.5% on the week to stand at Rs 35.31 lakh crore as on April 5, 2023. The central bank stated further that the overall reserve money contracted 1.46% on the week at Rs 46.13 lakh crore. Currency in circulation rose 3.4% on a year ago basis compared to 7.6% rise at the same time last year. In the current fiscal, the currency in circulation has edged up 0.5% so far while the reserve money has contracted by 1.5%.

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