Mexico's foreign reserves dropped by $163 million last week to $169.16 billion, the Bank of Mexico said Tuesday.

Gold and foreign currency reserves fell during the week of Aug. 12-16, the central bank said.

Foreign reserves are up by nearly $5.65 billion, compared to the Dec. 31, 2012, level, the Bank of Mexico said.

The money supply expanded by 8.38 billion pesos (about $644 million) to nearly 777.97 billion pesos ($59.75 billion) last week.

The money supply contracted by 68.05 billion pesos (nearly $5.23 billion) from Jan. 1 to Aug. 16, the Bank of Mexico said. EFE