RBI data shows currency in circulation rose ₹70.12 billion to ₹38.49 trillion in the week to Nov 14, growing 8.1% year-on-year versus 6.1% last year. Reserve money growth slowed sharply to 1.4% from 7.5% a year ago, reflecting cautious liquidity management amid inflationary concerns.
The Reserve Bank of India (RBI) has released its latest weekly data, highlighting notable shifts in the country’s monetary indicators. Currency in circulation rose by ₹70.12 billion, taking the total to ₹38.49 trillion as of November 14, 2025. This increase reflects heightened cash demand in the economy, often linked to festive season spending and liquidity needs.
Key highlights from the announcement:
Currency in circulation registered an 8.1% year-on-year growth, significantly higher than the 6.1% growth recorded a year ago.
The sharp rise underscores stronger cash usage despite the ongoing push toward digital transactions and UPI adoption.
In contrast, reserve money growth slowed to 1.4% year-on-year, compared to 7.5% growth in the same period last year, indicating tighter monetary conditions.
Analysts suggest the divergence between currency circulation and reserve money growth points to RBI’s cautious liquidity management, balancing inflationary pressures with economic activity.
The data will be closely watched by markets, as it provides insights into monetary policy direction and liquidity trends ahead of the next policy review.
This update highlights the RBI’s delicate balancing act—ensuring adequate cash flow while maintaining monetary discipline.
Sources: RBI Weekly Statistical Supplement, Economic Times, Business Standard