Reserve money sees sharp contraction of 1.50% on week

The Reserve Bank of India (RBI) has reported that currency in circulation rose 0.60% on the week to stand at Rs 35.20 lakh crore as on March 22, 2023. The central bank stated further that the overall reserve money contracted 1.54% on the week at Rs 45.98 lakh crore. Currency in circulation rose 4.10% on a year ago basis compared to 7.8% rise at the same time last year. In the current fiscal, the currency in circulation has gained by 4.2% so far while the reserve money has expanded by 4.8%.

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