Currency In Circulation Contracts Marginally On Weekly Basis

The Reserve Bank Of India (RBI) reported yesterday that currency in circulation fell 0.10% on the week to stand at Rs 26.88 lakh crore as on August 7th 2020. The central bank stated further that the overall reserve money also contracted by 0.30% on the week to Rs 31.92 lakh crore. Currency in circulation rose around 22.8% on a year ago basis compared to 12.9% rise at the same time last year. In the current fiscal, the currency in circulation has gone up by 9.8% so far while the reserve money has increased by 5.4%.

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