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 August 2021
- Details
- Category: Financial Statistics
- Created: 22 September 2021
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose significantly in August 2021 by $46.9 million to $751.7 million, equivalent to 13.1 months of imports. This resulted largely from an increase in capital inflow and remittances. Similary, foreign reserves increased substantially over the year by $195.6 million, underpinned by receipts of budget support, project funds, and remittances.
Statement by Sione Ngongo Kioa, Governor: Monetary Policy Decision - August 2021
- Details
- Category: Press Release
- Created: 20 September 2021
The National Reserve Bank of Tonga’s Board of Directors, at its board meeting on the 8th of September 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
Remittances for June 2021
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- Category: Economic Releases
- Created: 01 September 2021
Total remittance receipts declined by $5.1 million (12.0%) over the month to a total of $37.6 million in June 2021, driven by the fall in private transfers and compensation of employees receipts. However, it is usual for remittance receipts to decline in June following the hike in the family month of May. Total remittance receipts accounted for 30.5% of the total Overseas Exchange Transactions (OET) receipts, which is lower compared to the 53.3% share in the previous month.
Monthly Economic Review for June 2021
- Details
- Category: Economic Releases
- Created: 27 August 2021
A more positive outlook is projected for the 2021/22 fiscal year as the global economy is expected to recover coupled with the successful vaccine rollouts. Although there is expected inflationary pressure, it is projected to be transitory and will eventually fall below the 5% reference rate in the next 6 months.
Overseas Exchange Transactions for June 2021
- Details
- Category: Economic Releases
- Created: 26 August 2021
The Overseas Exchange Transactions (OET) recorded an overall balance surplus of $25.7 million in June 2021 compared to the $9.9 million surplus in May 2021. This resulted from increases in all of the accounts, and particularly from higher official transfer receipts. Therefore, the official foreign reserves rose to its highest record of $715.2 million, equivalent to 12.5 months of import cover.
Banking Sector Development for June 2021
- Details
- Category: Economic Releases
- Created: 26 August 2021
Broad money rose by $40.5 million (5.6%) over the month and $158.1 million (26.1%) over the year to $765.2 million. Both net foreign assets and net domestic assets increased over the month, due mainly to higher foreign reserves and lower capital accounts.
Statement by Sione Ngongo Kioa, Governor: Monetary Policy Decision - July 2021
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- Category: Press Release
- Created: 10 August 2021
According to the Governor of the Reserve Bank, Sione Ngongo Kioa, the domestic economic activities showed some improvements in May 2021. The primary sector reported higher exports of agricultural products, particularly cassava and taro. Meanwhile, the secondary industry varied with lower lending to the manufacturing and utilities sectors, while lending to the construction sector rose.
Also read in Tongan: Tu‘utu‘uni ki he Fokotu‘utu‘u Ngāue Fakapa‘anga
Financial Intelligence Quarterly Reports for June 2021
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- Category: Financial Intelligence
- Created: 06 August 2021
During the June 2021 quarter, the department continued to co-ordinate Tonga’s Mutual Evaluation process in preparation for the APG Annual Meeting to be held in July 2021. The department also assisted the Non-Banks Division in the compliance reviews and semi-annual training for the Foreign Exchange Dealers.
Unclaimed Monies - June 2021
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- Category: Press Release
- Created: 05 August 2021
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 94 of the Banking Act 2020 states, that any remaining unclaimed funds and properties after three (3) months claim period have met its expiry date, shall be presumed to be abandoned funds or properties and any claim shall be addressed directly to the Minister of Finance and is subject to the approval of the Minister of Finance.
Ngaahi Pa'anga 'Oku Te'eki Ke 'Eke'i
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- Category: Press Release
- Created: 05 August 2021
Fakatokanga'i ange ko kimoutolu 'oku lisi atu homou hingoa 'i he ngaahi pa'anga 'oku te'eki ai ke 'eke'i, ke fakahu atu leva ho'o 'eke ki hoó Kautaha Paánga Fakapangike óku ha atu, 'i loto 'i he mahina 'e tolu (3) mei he 'uluaki 'aho 'o e fanogonongo ni. Fakatatau ki he Lao ki he Ngaue Fakapangike 2020 vahe 94, "ko e pa'anga 'ikai 'eke'i 'i he hili mei heni ha mahina 'e tolu (3) pea kuo laka hake he taú é 5 'ene í he Pangike Pule Fakafonua ó Tonga, 'e lau ia koe pa'anga mo e ngaahi koloa li'aki pea kuo pau ke fakatu'asila fakahangatonu ha 'eke 'o e ngaahi pa'anga pe koloa kuo li'aki ki he Minista Pa'anga pea fakatatau pe ki he'ene fakangofua.
Authorized Moneylenders in Tonga
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- Category: Press Release
- Created: 30 July 2021
As required by section 3(1) of the Moneylenders Act 2018, the authority to conduct moneylending 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 moneylending business under the Moneylenders Act 2018 as of 29th July 2021.
Release of the 2020 Series $50 Banknote
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- Category: Public Notice
- Created: 24 June 2021
The Public is hereby notified that the National Reserve Bank of Tonga will release into circulation its 2020 series of $50 banknote bearing the signatures of the Prime Minister Pōhiva Tu’i’onetoa, Minister of Finance Tēvita Lavemaau and Governor of the Reserve Bank Sione Ngongo Kioa.
Statement by Sione Ngongo Kioa, Governor: Monetary Policy Decision - June 2021
- Details
- Category: Press Release
- Created: 15 June 2021
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 10th of June 2021, 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.
Also read in Tongan: Tu‘utu‘uni ki he Fokotu‘utu‘u Ngāue Fakapa‘anga
General Public Awareness on Legal Tender, External Reserves, and Investment on Bitcoin
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- Category: Press Release
- Created: 15 June 2021
It has come to the attention of The National Reserve Bank of Tonga that there are social media posts and mainstream media articles relating to Bitcoin potentially becoming a legal tender in the Kingdom of Tonga and/or alluded to the utilisation of the country’s foreign exchange reserves to buy/invest in cryptocurrency/crypto-assets such as Bitcoin.
