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 February 2019
- Details
- Category: Economic Releases
- Created: 21 June 2019
In February 2019, total remittance receipts fell by $0.6 million (2.4%) to $24.3 million, however, remained above the $20.0 million monthly average for February of the past 4 years. This was attributed to lower receipts for family support and from seasonal workers. Read more in the Remittance for February 2019.
Overseas Exchange Transactions for February 2019
- Details
- Category: Economic Releases
- Created: 21 June 2019
Fewer receipts in the capital account in February 2019 compared to the previous month coupled with higher deficit in the current account widened, drove the overall balance to record a $5.5 million deficit following the surplus recorded last month. Read more in the Overseas Exchange Transactions of February 2019.
Banking Sector Development for March 2019
- Details
- Category: Economic Releases
- Created: 20 June 2019
The banks’ lending for March 2019 was a total of $484.9 million, marking a slight rise of 0.2% over the month and 9.3% annual growth. This was largely driven by higher lending to businesses which outweighed the decline in both individuals and other loans. Read more of the Banking Sector Development for March 2019 for more information
Monetary Policy Decision - June 2019
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- Category: Press Release
- Created: 18 June 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 14th June 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Monthly Economic Review for April 2019
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- Category: Economic Releases
- Created: 18 June 2019
Activities in the primary sector were mostly positive. The Reserve Bank expects domestic economic activity to remain positive in the medium term. Furthermore, the foreign reserves is expected to remain at comfortable levels and inflation to continue remaining below the Reserve Bank’s inflation reference rate of 5% per annum throughout 2019.
Unauthorized Foreign Exchange Services
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- Category: Press Release
- Created: 14 June 2019
The Reserve Bank wishes to advise the public that it is aware that certain retail shops throughout Tongatapu and the outer islands are providing foreign exchange services without a valid license more specifically cash conversion of foreign currency.
Foreign Reserves Statistics for May 2019
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- Category: Financial Statistics
- Created: 10 June 2019
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $4.1 million over the month of May 2019 to $468.3 million, equivalent to 7.9 months of imports. The monthly movement was attributed mainly to higher official receipts for government funded projects and budgetary support. Read more on the Foreign Reserve Statistics for May 2019.
Monetary Policy Decision - May 2019
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- Category: Press Release
- Created: 16 May 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 14th May 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Currency Redesign Concept for the 5 & 10 Seniti
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- Category: Public Notice
- Created: 08 May 2019
In accordance with Clause 45 of the Constitution of Tonga and Section 25 of the National Reserve Bank of Tonga Act, the Bank made changes to Tonga’s current 5 & 10 seniti circulating coins to be easily identified by the public for their everyday cash transactions.
Monetary Policy Decision - April 2019
- Details
- Category: Press Release
- Created: 07 May 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 30th April 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
World Venture
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- Category: Press Release
- Created: 16 April 2019
It has come to the attention of The National Reserve Bank of Tonga (Reserve Bank) that the public has engaged in investing with “WorldVenture.” WorldVenture is a Multi-Level Marketing Company and is currently being promoted as a travel or tourism business, with its head office based in the United States.
Use of the name "Bank"
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- Category: Press Release
- Created: 03 April 2019
The National Reserve Bank (Reserve Bank) would like to remind the general public that only licensed banks shall use “bank” as part of its name and any representations made by an entity that can appear to be advertising itself as a bank without a valid banking license is prohibited under the Financial Institutions Act.
Monetary Policy Decision - March 2019
- Details
- Category: Press Release
- Created: 27 March 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 21st March 2019, approved to maintain its current monetary policy measures outlined below. This accommodative monetary policy stance is to encourage utilisation of the excess liquidity in the banking system, through further lending to support economic growth and strengthen the monetary policy transmission mechanism.
Financial Intelligence Quarterly Reports for December 2018
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- Category: Financial Intelligence
- Created: 18 March 2019
The Financial Intelligence Unit continued with its preparation for Tonga’s Mutual Evaluation in 2019 through confirming technical assistance for its AML/CFT supervision function, engaging legal expertise of the International Monetary Fund in reviewing Tonga’s AML legislations as well as progressing with negotiation process with five foreign counterparts on signing MOUs.
Monetary Policy Decision - February 2019
- Details
- Category: Press Release
- Created: 19 February 2019
The National Reserve Bank of Tonga’s Board of Directors at its first meeting, on the 18th February 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
