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.
Reserve Bank of Tonga Serving the Kingdom
- Details
- Category: Press Release
- Created: 15 September 2023
The National Reserve Bank of Tonga today made a significant contribution to His Majesty’s Government in presenting a cheque for $14.2 million to the Acting Prime Minister Honorable Samiu Vaipulu and Minister for Finance, Honorable Tiofilusi Tiueti.
Also read in Tongan:
Tokoni ‘a e Pangikē Pule Ki he Fonua
National Reserve Bank of Tonga Cancels a Foreign Exchange Dealer License
- Details
- Category: Press Release
- Created: 13 September 2023
The National Reserve Bank of Tonga wishes to inform the general public that the license granted under the name “T&T Money Transfer Limited” to act as a foreign exchange dealer (License Type A) has been canceled and is no longer authorized to conduct foreign exchange business.
Also read in Tongan:
Kaniseli é he Pangikē Pule Fakafonu á Tongá á e Laiseni á e Kautaha Fakafehū’aki Pa’anga Muli
Lower Inflation Remains Priority for the Reserve Bank August 2023 MPS
- Details
- Category: Press Release
- Created: 11 September 2023
The Board of Directors of the Reserve Bank of Tonga (NRBT) has decided to focus on two main goals in its August 2023 Monetary Policy Statement (MPS): first, to keep inflation below the 5% reference rate, including through seeking Government’s assistance in controlling domestic and wage inflation; and second, to provide targeted support towards economic recovery of vulnerable sectors to address supply shortages and promote business investments.
Also read in Tongan:
Fakamatala Fokotu‘utu‘u Ngāue Fakapa‘anga: ‘Aokosi 2023
Monthly Economic Update: July 2023
- Details
- Category: Economic Releases
- Created: 14 August 2023
The primary sector was buoyed by higher agricultural exports during the month. Agricultural exports increased by 28.8 tonnes (4.1%), stemming from higher exports of cassava, squash (off-season export), and coconut. Lending to the construction sector supported upbeat activities in the sector, rising by 6.3% ($1.3 million) over the month, coupled with a 20.3% ($0.03 million) increase recorded for loans to the mining & quarrying sector.
Tonga: Staff Concluding Statement of the 2023 Article IV Mission
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- Category: Press Release
- Created: 09 August 2023
The IMF mission team would like to thank the Ministry of Finance, the National Reserve Bank of Tonga, other ministries and government agencies, and private sector interlocutors for their warm hospitality and constructive discussions.
Appointment of Reserve Bank Deputy Governors
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- Category: Press Release
- Created: 24 July 2023
The National Reserve Bank of Tonga is pleased to announce that the Board of Directors on 21 July 2023, approved the appointment of Ms. Úngatea Latu as the Deputy Governor Policy and Mr. Lata Tangimana as the Deputy Governor Operation for a five-year term.
Foreign Reserves Statistics for June 2023
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- Category: Financial Statistics
- Created: 12 July 2023
Tonga’s official foreign reserves increased over the month by $56.6 million to a record $921.4 million at the end of June 2023 equivalent to over 13 months of imports. The 13 months’ equivalent is higher than the optimum level of 7.5 months.
Reserve Bank Monetary Policies: Stay Relevant to Promote the Kingdom’s Economic Recovery
- Details
- Category: Press Release
- Created: 22 June 2023
Following the 2022 COVID-19 pandemic, HTHH volcano eruption and tsunami ashfall damages, the monetary and financial policies of the National Reserve Bank of Tonga are critical to stay relevant to be supportive of the Kingdom’s economic recovery contributing to macro stability in 2023, resilience to shocks in the short to medium term.
Also read in Tongan:
Ngaahi Fokotu‘utu‘u Ngāue Fakapa‘anga ‘a e Pangikē Pule′: Fakahoko ngāue fakatatau ki he ta‘au ‘o taimi ke tokoni‘i ‘a e fakaakeake faka‘ekonōmika ‘e fonua
Remittances Receipts for February 2023
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- Category: Economic Releases
- Created: 19 May 2023
February 2023’s remittance receipts continued to decline by $0.1 million (0.4%) to $37.5 million. Funds received from private transfer and compensation of employees drove the overall monthly decline with declines of $0.7 million (2.1%) and $0.2 million (6.9%) respectively.
Headline Inflation continued to decline in February 2023
- Details
- Category: Press Release
- Created: 12 April 2023
The February Consumer Price Index reported inflation annual rate at 8.7%, a decline from 9.7% in the previous month, and lower than 9.1% in February 2022. Inflation has generally been easing from its peak of 14% in September 2022.
Also read in Tongan:
Holo e hikihiki e totongi koloa 'i Fepueli 2023
Issuance of the Revised Exchange Control Directive, Effective 1st June 2023
- Details
- Category: Press Release
- Created: 06 April 2023
The Reserve Bank Board approved in February 2023 the revision of the September 2018 Exchange Control Directive and Exchange Control Guideline, to ease overseas payments in accordance with the Foreign Exchange Control Act 2018. The revised Directive will come into force on the 1st June 2023.
Also read in Tongan:
Ngaahi Liliu ki he Tohi Tu’utu’uni Ngāue ki hono Pule’i ‘o e Fetongi Pa’anga Muli
Monetary Policy Statement for February 2023
- Details
- Category: Press Release
- Created: 01 March 2023
The National Reserve Bank Board of Directors approved to release its Monetary Policy Statement (MPS) for February 2023 which outlines the revised monetary policy stance following a review of Tonga’s economic performance and macroeconomic conditions.
Monthly Economic Review for November 2022
- Details
- Category: Economic Releases
- Created: 07 February 2023
The expected recovery for the Tongan economy in FY2022/23 is to continue even with the continuing impact of the invasion of Ukraine and global slow down. Imports are projected to strengthen in line with the economic recovery, while remittance receipts and inflows from donor funds return to pre-pandemic levels.
Tonga Appoints New Reserve Bank Governor
- Details
- Category: Press Releases
- Created: 24 December 2022
The Reserve Bank is pleased to announce the Government appointment of Tatafu Moeaki on 20 December 2022 as the new Reserve Bank Governor. The appointment is made in accordance with Section 11 of the National Reserve Bank Act following an open recruitment process and recommendations by the Hon. Tiofilusi Tiueti, Minister of Finance in consultation with the Board of the Reserve Bank.
