Reserve money contracts 1% on week

The Reserve Bank of India (RBI) has reported that currency in circulation edged up 0.1% on the week to stand at Rs 35.71 lakh crore as on May 3, 2024. The central bank stated further that the overall reserve money contracted by 1% on the week to Rs 46.85 lakh crore. Currency in circulation rose 2.7% on a year ago basis compared to 7.5% gain at the same time last year. In the current fiscal, the currency in circulation has gained by 1.6% so far while the reserve money has edged up marginally by 0.1%.

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