Mexico's foreign reserves rose by $179 million last week to $179.84 billion, the Bank of Mexico said.

Gold and foreign currency reserves grew in the week ending Feb. 14 mainly due to an increase in the value of the central bank's assets.

Reserves have grown by $3.32 billion since Jan. 1, the Bank of Mexico said in a statement.

The M1 money supply, which includes currency, coins and demand deposits, expanded by 7.27 billion pesos (about $552 million) to 866.58 billion pesos (some $67.3 billion) last week, the central bank said.

The money supply, however, has contracted by 51.28 billion pesos ($3.88 billion) since Jan. 1. EFE