M2 and Central Bank reserves

(in billions of $US)


  Date	      Reserves	 M2
1985:01		6.91	43.05
1985:02		6.12	42.23
1985:03		6.87	41.72
1985:04		6.68	41.83
1985:05		6.49	41.85
1985:06		6.12	41.10
1985:07		4.88	33.79
1985:08		4.67	33.14
1985:09		4.89	32.87
1985:10		5.03	32.51
1985:11		4.91	32.10
1985:12		4.91	32.11
1986:01		5.27	29.71
1986:02		5.31	28.14
1986:03		5.00	27.07
1986:04		5.21	26.48
1986:05		4.49	25.75
1986:06		3.46	24.69
1986:07		2.92	23.74
1986:08		3.45	22.47
1986:09		3.33	21.52
1986:10		3.71	21.38
1986:11		4.14	21.54
1986:12		5.67	23.06
1987:01		6.37	22.28
1987:02		6.74	22.26
1987:03		7.74	23.52
1987:04		11.47	23.99
1987:05		11.70	24.32
1987:06		12.55	24.10
1987:07		12.70	24.52
1987:08		13.31	24.58
1987:09		13.31	24.64
1987:10		13.16	25.07
1987:11		12.93	25.46
1987:12		12.46	23.83
1988:01		12.31	23.20
1988:02		12.54	24.38
1988:03		14.52	26.79
1988:04		14.88	27.73
1988:05		14.27	29.45
1988:06		12.86	29.87
1988:07		10.47	29.87
1988:08		10.91	29.02
1988:09		8.59	30.18
1988:10		7.65	29.09
1988:11		5.48	24.46
1988:12		5.28	19.05
1989:01		5.47	15.84
1989:02		5.64	15.01
1989:03		5.10	14.15
1989:04		5.09	15.70
1989:05		4.34	18.04
1989:06		4.85	19.30
1989:07		5.49	19.90
1989:08		5.48	22.92
1989:09		6.86	27.13
1989:10		6.82	29.69
1989:11		6.47	30.35
1989:12		6.33	35.52
1990:01		5.56	32.79
1990:02		7.92	32.58
1990:03		4.32	31.99
1990:04		5.03	36.42
1990:05		5.49	37.19
1990:06		6.51	38.51
1990:07		6.83	38.81
1990:08		7.13	38.67
1990:09		7.58	40.18
1990:10		8.18	44.14
1990:11		9.43	48.21
1990:12		9.86	56.00
1991:01		10.56	53.88
1991:02		11.48	54.11
1991:03		11.61	56.18
1991:04		13.16	57.27
1991:05		13.66	60.22
1991:06		14.00	61.50
1991:07		14.40	62.45
1991:08		13.93	67.76
1991:09		16.44	65.43
1991:10		17.29	74.64
1991:11		19.69	74.36
1991:12		17.73	80.21
1992:01		17.96	78.33
1992:02		19.09	79.35
1992:03		18.52	80.38
1992:04		19.38	80.63
1992:05		18.86	80.33
1992:06		18.94	81.60
1992:07		18.96	82.43
1992:08		18.84	84.17
1992:09		19.21	84.66
1992:10		18.59	88.65
1992:11		18.91	92.10
1992:12		18.94	97.13
1993:01		21.22	97.44
1993:02		21.57	98.02
1993:03		21.27	97.46
1993:04		24.52	99.17
1993:05		24.23	100.36
1993:06		22.98	101.85
1993:07		22.94	102.03
1993:08		22.97	101.74
1993:09		23.07	102.23
1993:10		23.22	103.58
1993:11		19.19	107.27
1993:12		25.11	111.55
1994:01		26.63	110.09
1994:02		29.32	106.30
1994:03		25.89	105.38
1994:04		17.67	110.04
1994:05		17.43	108.71
1994:06		16.51	105.34


Calvo, personal communication.

Topic Mexican Economic Crisis