www.reservebank.to | Official Website of Tonga's central bank
The National Reserve Bank of Tonga (Reserve Bank) was established on 1 July 1989 as the central bank of Tonga.
The principal objectives of the Reserve Bank shall be to maintain internal and external monetary stability, promote financial stability and promote a sound and efficient financial system. The Reserve Bank shall conduct its activities in a manner that supports macroeconomic stability and economic growth.
Remittances for April 2020
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- Category: Economic Releases
- Created: 08 July 2020
The total remittance receipts for April 2020 fell by $2.5 million (9.6%) to $23.5 million largely driven by a decline in private transfers of $2.9 million (12.5%). Private capital transfer receipts also declined by $0.1 million (18.1%) whilst social benefit receipts remained unchanged. Read more in the Remittance for April 2020.
Authorized Foreign Exchange Services
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- Category: Press Release
- Created: 02 July 2020
As required by section 4(1) of the Foreign Exchange Control Act 2018, the authority to conduct foreign exchange business in Tonga is restricted only to Authorized Persons licensed by the National Reserve Bank of Tonga. Members of the public are hereby advised that the following entities are Authorized Persons licensed to deal in foreign exchange under the Foreign Exchange Control Act 2018.
Monetary Policy Decision - June 2020
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- Category: Press Release
- Created: 01 July 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 26th June 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending to growth sectors and to support the economy from the impacts of COVID-19.
Banking Sector Development for January 2020
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- Category: Economic Releases
- Created: 24 June 2020
In January 2020, the banks’ total lending declined further by $0.2 million (0.04%) to $500.7 million, owing mostly to a slight decline in household loans offsetting the rise in business loans. The banks’ total deposits decreased over the month and year to January 2020, by $3.1 million (0.5%) and $27.2 million (4.3%) respectively to $604.3 million. Read more on the Banking Sector Development for January 2020.
Monthly Economic Review for April 2020
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- Category: Economic Releases
- Created: 15 June 2020
While COVID-19 already threatens to reduce domestic activities, the arrival of Tropical Cyclone (TC) Harold in April further amplified the downturn. TC Harold (Category 4) brought very strong winds and a massive storm surge, causing severe damages to businesses, household dwellings, agriculture and public infrastructures across Tongatapu and ‘Eua.
Overseas Exchange Transactions for December 2019
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- Category: Economic Releases
- Created: 05 June 2020
The overall OET balance recorded a deficit of $2.1 million in December 2019, compared to a surplus of $0.2 million last month. Higher payments over the month were for services, interbank transfers, imports, and investments. Read more in the Overseas Exchange Transactions of December 2019.
Monetary Policy Decision - May 2020
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- Category: Press Release
- Created: 03 June 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 29th May 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending to growth sectors and to support the economy from the impacts of COVID-19.
Foreign Reserves Statistics for May 2020
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- Category: Financial Statistics
- Created: 13 May 2020
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose over the month and year to May 2020 by $14.5 million and $21.3 million respectively to $489.6 million. This is equivalent to 7.0 months of imports. Read more on the Foreign Reserve Statistics for May 2020.
Financial Intelligence Quarterly Reports for March 2020
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- Category: Financial Intelligence
- Created: 06 May 2020
The Financial Intelligence Unit received its team of assessors for the onsite visit in Tonga. This specific visit is for Tonga to understand its ML/TF risks and to conduct the first National AML/CFT Risk Assessment in the past years.
Monetary Policy Decision - April 2020
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- Category: Press Release
- Created: 05 May 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 1st May 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending to growth sectors and to support the economy from the impacts of COVID-19.
Financial System Services Adjust to Comply with Government State of Emergency Rules relating to Covid-19
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- Category: Press Release
- Created: 26 March 2020
The Reserve Bank continues to work together with Government, the Association of Banks and non-bank financial institutions to enhance preparedness to minimize the financial risks from Covid-19. At its Board of Directors meeting on the 26 March 2020, the Reserve Bank agreed to provide financial assistance to Government in its effort to provide financial relief to the sectors affected by the Covid-19 outbreak.
Monetary Policy Decision - March 2020
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- Category: Press Release
- Created: 26 March 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 18th March 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending to growth sectors in order to support domestic economic activities and growth.
Monetary Policy Decision - February 2020
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- Category: Press Release
- Created: 26 March 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 25th February 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Banking System is ready to address the impact of COVID-19
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- Category: Press Release
- Created: 19 March 2020
The Governor reported that Tonga’s economic fundamentals are strong, however, the coronavirus (COVID-19) is expected to adversely impact the external account balances, the foreign reserves, the fiscal account and consequently economic growth. The Reserve Bank will continue to monitor and assess the coronavirus impact on the financial system and the economy, and will adjust these monetary policy measures, if required, to maintain financial and monetary stability.
