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.
Monthly Economic Review for July 2020
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- Category: Economic Releases
- Created: 25 September 2020
The cancellation of major events such as the Royal Agricultural Show and the Heilala Week Festival for 2020, diminishes what normally would have been a vibrant month for domestic activities, as visitors arrive in Tonga for the mid-year school holidays and to attend the festivities.
Remittances for June 2020
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- Category: Economic Releases
- Created: 23 September 2020
The cancellation of major events normally held in June particularly the annual conference of churches and the Heilala Festival recorded a slowdown in remittance receipts. Hence, total remittance receipts for June 2020 decreased by $3.0 million (8.7%) from the previous month. Read more in the Remittance for June 2020.
Banking Sector Development for May 2020
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- Category: Economic Releases
- Created: 23 September 2020
The total banks’ lending grew over the month and year to May 2020 by $1.1 million (0.2%) and $8.1 million (1.7%) respectively to a total of $495.4 million. Total deposits rose during May 2020 by $7.0 million (1.2%) mostly attributed to higher saving deposits by $5.9 million (8.8%) from individuals. Read more on the Banking Sector Development for May 2020.
Foreign Reserves Statistics for August 2020
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- Category: Financial Statistics
- Created: 11 September 2020
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) marginally rose over the month of August 2020 to $556.1 million equivalent to 8.5 months of imports. Read more on the Foreign Reserve Statistics for August 2020.
Access to Finance - June 2020
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- Category: Inclusion
Tonga’s access to financial services showed a mixed outcome over the year to June 2020, with an increase in usage of the financial services whilst the access to financial services slightly declined. The rise in the usage of financial services indicates a change in financial consumer behaviour in opting for greater flexibility and options on selecting access points and financial services that best meet their needs due to the impact of COVID-19.
Monetary Policy Decision - August 2020
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- Category: Press Release
- Created: 03 September 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 31st of August 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.
Unclaimed Monies Notice
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- Category: Public Notice
- Created: 28 August 2020
Please be advised that account holders (owners) of listed unclaimed monies are required to make your claim to your respective banks within 3 months from the first date of this publication. In accordance with section 82 of the Financial Institutions (Amendment) Act 2014 states that any remaining Unclaimed Monies after three (3)months claim period have met its expiry date, will be transferred to the government and will become government property.
Overseas Exchange Transactions for April 2020
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- Category: Economic Releases
- Created: 27 August 2020
The overall OET balance recorded a $17.7 million surplus in April 2020 after four consecutive months of overall deficit balances. Higher surplus over the month was attributed mainly to the inflow of official receipts from development partners to assist with the COVID-19 pandemic. Read more in the Overseas Exchange Transactions of April 2020.
Monetary Policy Decision - July 2020
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- Category: Press Release
- Created: 12 August 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 5th of August 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.
Release of 2018 Series $50 Banknote
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- Category: Public Notice
- Created: 04 August 2020
The Public is hereby notified that the National Reserve Bank of Tonga will release into circulation its 2018 series of $50 banknote bearing the signatures of the late Prime Minister 'Akilisi Pohiva, the former Minister of Finance, Pohiva Tu'i'onetoa and Governor of the Reserve Bank, Sione Ngongo Kioa.
Financial Intelligence Quarterly Reports for June 2020
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- Category: Financial Intelligence
- Created: 21 July 2020
During the June 2020 quarter, the FIU noted an increase in the number of reports filed in this quarter compared to the previous quarter. In collaboration with the Non-Banks supervision team, the FIU also conducted the quarterly compliance spot checks for foreign exchange dealers.
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
- Details
- 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.
Monetary Policy Decision - May 2020
- Details
- 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.
