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 April 2022
- Details
- Category: Financial Statistics
- Created: 23 May 2022
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) increased considerably in April 2022 by $22.6 million to $884.0 million, equivalent to 12.7 months of imports. This was mainly due to receipts of relief funds from Government’s development partners to support the country’s recovery from the Hunga Tonga - Hunga Ha’apai volcanic eruption and tsunami, in addition to remittance receipts.
Banking Sector Development for November 2021
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- Category: Economic Releases
- Created: 17 May 2022
Money supply continues to expand as broad money rose further by $17.4 million (2.2%) in November 2021 and $125.7 million (18.5%) annually. Both rises were solely driven by higher net foreign assets reflective of the
growing foreign reserves from receipts of grants, budget support, and project funds from development partners.
Tonga: Staff Concluding Statement of the 2022 Article IV Mission
- Details
- 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.
Monthly Economic Review for December 2021
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- Category: Economic Releases
- Created: 27 April 2022
The global economic recovery is uneven, while geopolitical tensions worsen the inflation outlook. According to the World Bank's GRADE report, the Hunga Tonga Hunga Ha’apai (HTHH) volcanic eruption and tsunami left an estimated $209 million in economic damages.
Overseas Exchange Transactions for October 2021
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- Category: Economic Releases
- Created: 11 April 2022
The Overseas Exchange Transactions (OET) overall balance changed little in October 2021 compared to the $5.3 million surplus in September 2021. The increase in the current and capital accounts was mostly offset by the fall in the financial account. Official foreign reserves remained comfortable at $757.0 million by the end of October, equivalent to 12.1 months of imports.
Remittances for November 2021
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- Category: Economic Releases
- Created: 11 April 2022
Total remittance receipts fell by $2.3 million (5.3%) in November 2021. Lower receipts were recorded mainly for private transfers, employees' compensation, and private capital transfers. Over the year, remittance receipts was significantly higher by $103.4 million (26.7%) at $490.0 million.
Monetary Policy Decision - December 2021
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- 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
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- 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
Access to Finance - June 2021
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- Category: Inclusion
Tonga’s access to financial services is very much linked to the impact of COVID-19 over the year ended to June 2021, reflecting the increase in remittances and the use of digital financial services which are convenient for those sending remittances to Tonga. Social distancing and lockdowns have strengthened the use of digital financial services and remittances have supported the increase in deposit accounts.
MSMEs Access to Finance - June 2021
- Details
- Category: Inclusion
- Created: 15 November 2021
Over the year ended June 2021, the MSMEs outstanding loans fell by $4.1 million (16.0%) to T$21.3 million compared to the year ended June 2020. This was mainly due to the decline in outstanding loans to agriculture, wholesale retail and manufacturing sector.
Reserve Bank warns public on the “Tonga Financial Services Authority” website
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- Category: Press Release
- Created: 14 October 2021
It has come to the notice of the National Reserve Bank of Tonga (NRBT) that a fake website in the name of “Tonga Financial Services Authority” (TFSA) has been created with the URL https://tfsa.to/ by some unknown person(s). The NRBT warns members of the public to exercise caution while accessing or when providing any information on this fake website, or other websites that may appear similar to the website of the NRBT.
Monetary Policy Decision - September 2021
- Details
- Category: Press Release
- Created: 05 October 2021
The National Reserve Bank of Tonga’s Board of Directors, at its board meeting on the 29th 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
Statement by Sione Ngongo Kioa, Governor: Monetary Policy Decision - July 2021
- Details
- 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
