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 September 2020
- Details
- Category: Economic Releases
- Created: 23 November 2020
Considering the monthly developments in the indicators, the expected downturn for economic growth still stands. The Reserve Bank’s monetary policy stance remains accommodative. Additionally, the Reserve Bank is committed to continue monitoring the emerging risks prompted by the prolonged state of the COVID-19 pandemic that can impact economic growth and potentially impair financial stability.
Foreign Reserves Statistics for October 2020
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- Category: Financial Statistics
- Created: 16 November 2020
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) increased significantly over the month of October 2020 by $5.1 million to $581.6 million, equivalent to 9.7 months of imports. Read more on the Foreign Reserve Statistics for October 2020.
General Public Awareness on Pyramid Schemes
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- Category: Press Release
- Created: 12 November 2020
It has come to the attention of The National Reserve Bank of Tonga (Reserve Bank) that the public is engaged in investing with schemes that could fall under the definition of a pyramid scheme. The Reserve Bank warns the general public against participating in any pyramid scheme. If you wish to still participate in such a scheme, it will be at your own risk.
Fakatokanga ki he Kakai ‘o e Fonuá ‘o fekau’aki moe Ngaahi Palani Pilamita
- Details
- Category: Press Release
- Created: 12 November 2020
Kuo fakaa’u mai ki he Pangikē Pule Fakafonua ‘a Tongá ha ngaahi fakamatala ‘o fekau’aki pea mo e ‘alu ke tokolahi ange ‘a e kakai ‘o e fonuá ‘oku fakahū ke ma’u ha tupu ‘a ‘enau pa’angá ‘i ha ngaahi kautaha pe kulupu ‘oku hā mai ‘oku ne ma’u ‘a e natula mo e ‘uhinga ‘o ha ngaahi palani pilamita.
Overseas Exchange Transactions for July 2020
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- Category: Economic Releases
- Created: 12 November 2020
The Overseas Exchange Transactions (OET) overall balance maintained a surplus of $12.1 million in July 2020, although significantly lower than the surplus in the previous month. Both OET receipts and payments declined sharply in July 2020 by $46.7 million (42.9%) and $5.3 million (9.3%) respectively. Read more in the Overseas Exchange Transactions of July 2020.
Monetary Policy Decision - November 2020
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- Category: Press Release
- Created: 11 November 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 6th of November 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.
Legislation for Supervision and Regulation of Moneylenders in Tonga
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- Category: Press Release
- Created: 06 November 2020
All moneylenders or persons conducting a moneylending business are required to be licensed by the Reserve Bank under the Moneylender Act 2018. All persons conducting moneylending business or wish to conduct a moneylending business are kindly requested to contact the National Reserve Bank of Tonga as soon as possible.
Banking Sector Development for July 2020
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- Category: Economic Releases
- Created: 30 October 2020
Loan activities remained subdued, mostly demand-driven as the public appears to have a tendency to save rather than to invest during these uncertain times. Total deposits rose by $5.9 million (1.0%) in July 2020 mainly from the central government and the private sector. Read more on the Banking Sector Development for July 2020.
Financial Intelligence Quarterly Reports for September 2020
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- Category: Financial Intelligence
- Created: 22 October 2020
During the September 2020 quarter, the unit noted an increase in the number of reports filed in this quarter compared to the previous quarter. Tonga received its 2nd Draft Mutual Evaluation report from the assessors together with the external reviewer’s comments in September 2020.
Monetary Policy Decision - September 2020
- Details
- Category: Press Release
- Created: 06 October 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 30th of September 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.
MSMEs Access to Finance - June 2020
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- Category: Inclusion
- Created: 05 October 2020
Amongst the National Reserve Bank of Tonga’s monetary policy actions is to focus on exploring measures to encourage the full utilization of the excess liquidity in the banking system for prudent lending activities to support economic growth. This includes undertaking financial inclusion initiatives to support inclusive economic growth.
Local Money Transfer - July 2020
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- Category: Inclusion
- Created: 05 October 2020
One of the Financial Access objectives is to improve the understanding and make better policies based on accurate and timely financial inclusion statistics and reports. To this end information on the financial services provided by Local Money Transfer services between Tongatapu and the outer islands to assist with assessing individual’s access to finance.
Remittances for July 2020
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- Category: Economic Releases
- Created: 02 October 2020
Despite expectations of a downturn due to the impacts of COVID-19, Tonga’s remittance persistently remains at very high levels over the past few months to July 2020. Read more in the Remittance for July 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.
