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.
Foreign Reserves Statistics for June 2022
- Details
- Category: Financial Statistics
- Created: 28 July 2022
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) fell in June 2022 by $9.2 million to $871.2 million, equivalent to 12.1 months of imports. This was attributed to an increase in transfers for large import payments over the month. In year ended terms, foreign reserves increased significantly by $155.9 million underpinned by higher receipts of budget support, official grants, capital inflows, and remittances.
Monetary Policy Decision - June 2022
- Details
- Category: Press Releases
- Created: 08 July 2022
The National Reserve Bank of Tonga’s Board of Directors, at its board meeting on the 30 June 2022, approved to maintain its current accommodative monetary policy stance while working in tandem with the Government to support economic recovery and macroeconomic stability.
Also read in Tongan:
Tu‘utu‘uni ki he Fokotu‘utu‘u Ngāue Fakapa‘anga - Sune 2022
Crown Prince Tupouto'a 'Ulukalala launched the Reserve Bank's Domestic Electronic Payment System
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- Category: Press Releases
- Created: 07 July 2022
His Royal Highness Crown Prince Tupouto’a ‘Ulukalala launched the Domestic Electronic Payment System (DEPS) marking the beginning of the progressive move towards digitalization of the payment system. The launching of the DEPS also coincided with the NRBT’s 33rd Anniversary on July 1, 2022.
Monthly Economic Review for April 2022
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- Category: Economic Releases
- Created: 07 July 2022
According to the World Bank’s Global Economic Prospects in June 2022, the risk of stagflation is growing considerably amid weaker global growth. The global growth forecast for 2022 has been revised down from 4.1% to 2.9%, compounded by the war-induced disruptions, faded pent-up demand, and withdrawal of substantial policy support.
Overseas Exchange Transactions for December 2021
- Details
- Category: Economic Releases
- Created: 06 July 2022
The Overseas Exchange Transactions (OET) recorded an overall surplus of $33.6 million in December 2021 compared to the $26.9 million surplus in November 2021. This stemmed mostly from increases in net transfer receipts and income, offsetting the widening trade and services deficits.
Central Banks committed to economic prosperity and wellbeing in South Pacific
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- Category: Press Releases
- Created: 29 June 2022
At a meeting of South Pacific Central Bank Governors on 20 June 2022, the Governors reconfirmed their commitment to supporting the region’s access to cost effective remittances, retention of bank services and improving financial inclusion.
Courtesy of the Reserve Bank of New Zealand
Unauthorized Foreign Exchange Dealers
- Details
- Category: Press Releases
- Created: 16 June 2022
The Reserve Bank is aware that there are few businesses and individuals throughout Tongatapu and the outer islands that are providing foreign exchange services to the public without a valid Foreign Exchange Dealer license. Please be advised that the Only Authorized Persons to provide foreign exchange services to the public have obtained a valid license by the Reserve Bank.
Also read in Tongan:
Fakafetongi Pa’anga Muli Ta’efakalao
Remittances for December 2021
- Details
- Category: Economic Releases
- Created: 09 June 2022
Similar to previous years, remittance receipts peaked in December in line with the Christmas holidays. Remittance receipts hit a new monthly high of $51.9 million, which was $10.4 million (24.9%) higher than the previous month. The significant rise in private transfer receipts drove the monthly rise in remittance receipts.
Banking Sector Development for December 2021
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- Category: Economic Releases
- Created: 27 May 2022
Credit growth is expected to remain subdued in the near term, while non-performing loans is projected to rise for businesses and households' housing and personal loans. These are mostly driven by the uncertainties of the COVID-19 pandemic, weak investment appetite, and softening aggregate demand.
Tonga: Staff Concluding Statement of the 2022 Article IV Mission
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- Category: Press Releases
- Created: 14 May 2022
Tonga’s economic activity is slowly normalizing following the Hunga Tonga Hunga Haʻapai (HTHH) volcanic eruption and the local outbreak of COVID-19 in early 2022. The authorities’ strong policy response, together with swift humanitarian assistance by the international community, helped keep the economy afloat and protect the vulnerable.
Remittances for December 2021
- Details
- Category: Economic Releases
- Created: 11 April 2022
Similar to previous years, remittance receipts peaked in December in line with the Christmas holidays. Remittance receipts hit a new monthly high of $51.9 million, which was $10.4 million (24.9%) higher than the previous month. The significant rise in private transfer receipts drove the monthly rise in remittance receipts.
Monetary Policy Decision - December 2021
- Details
- Category: Press Release
- Created: 14 December 2021
The National Reserve Bank of Tonga’s Board of Directors, at its board meeting on the 30th of November 2021, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system for further lending to growth sectors and supporting the economic recovery from the impacts of COVID-19.
Also read in Tongan:
Tu‘utu‘uni ki he Fokotu‘utu‘u Ngāue Fakapa‘anga - Tisema 2021
Directive Notice No. 2 of 2021 - Excluded Moneylenders
- Details
- Category: Press Release
- Created: 22 November 2021
The Reserve Bank is hereby issuing Directive No. 2 that supersedes Directive No. 1 issued on the 27th November 2020 that the following entities are exempted from the Moneylenders Act.
Monetary Policy Decision - November 2021
- Details
- Category: Press Release
- Created: 19 November 2021
The National Reserve Bank of Tonga's Board of Directors, at its board meeting on the 11th of November 2021, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system by further lending to growth sectors and supporting the economy from the impacts of COVID-19.
Also read in Tongan:
Tu‘utu‘uni ki he Fokotu‘utu‘u Ngāue Fakapa‘anga - Novema 2021