The Reserve Bank Of India (RBI) has reported that currency in circulation contracted by 1% on the week to stand at Rs 34.41 lakh crore as on May 26, 2023. The central bank stated further that the overall reserve money also contracted by 0.90% on the week to Rs 44.21 lakh crore. Currency in circulation moved up 6.9% on a year ago basis compared to 8.7% growth at the same time last year. In the current fiscal, the currency in circulation has edged up by 1.9% so far while the reserve money has gained by 0.8%.

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