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.
Monetary Policy Decision - August 2019
- Details
- Category: Press Release
- Created: 19 August 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 15th August 2019, approved to maintain its current monetary policy measures outlined below. This is to encourage the utilization of the excess liquidity in the banking system, through further lending to support economic growth and strengthen the monetary policy transmission mechanism.
Monthly Economic Review for June 2019
- Details
- Category: Economic Releases
Activities in the primary sector were mixed in June 2019. The Reserve Bank expects domestic economic activity to remain positive in the medium term. The Reserve Bank will maintain its monetary policy stance, continue to closely monitor developments in the domestic and global economies, and make adjustments to its policies, to ensure financial and macroeconomic stability are maintained.
Unclaimed Monies Notice
- Details
- Category: Public Notice
- Created: 12 August 2019
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 82 of the Financial Institutions (Amendment) Act 2014 states that any remaining Unclaimed Monies after three (3)months claim period have met its expiry date, will be transferred to the government and will become government property.
Reserve Bank revised its Bank Licence Application Forms
- Details
- Category: Press Release
- Created: 08 August 2019
The National Reserve Bank (Reserve Bank) would like to inform the general public that the Reserve Bank Board of Directors approved the revised Bank Licence Application Forms (Forms 1 - 4) to be effective on the 1st August, 2019, mainly to enhance the information required for the reviewing process of bank license applications.
Foreign Reserves Statistics for July 2019
- Details
- Category: Financial Statistics
- Created: 07 August 2019
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $8.6 million over the month of July 2019 to a new high record of $492.9 million, equivalent to 8.2 months of imports. Similarly, the official foreign reserves increased over the year by $16.4 million. Read more on the Foreign Reserve Statistics for July 2019.
Remittances for April 2019
- Details
- Category: Economic Releases
- Created: 29 July 2019
A slight rise in employees compensation by $0.2 million (7.7%) over the month of April 2019 drove the total remittances higher by $0.2 million. Social benefits rose by $0.1 million but was offset by a decline in private capital transfers. Read more in the Remittance for April 2019.
Overseas Exchange Transactions for March 2019
- Details
- Category: Economic Releases
- Created: 29 July 2019
In April 2019, payments from the current account for imported goods and services declined by $8.4 million over the month mostly on import and services payments. The total receipts rose by $3.6 million due to higher receipts for services, funds and donations to non-profit organizations and receipts for both official and individual construction. Read more in the Overseas Exchange Transactions of April 2019.
Monetary Policy Decision - July 2019
- Details
- Category: Press Release
- Created: 24 July 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 19th July 2019, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
APG Pre-Mutual Evaluation Workshop
- Details
- Category: Press Release
- Created: 23 July 2019
Tonga’s Serious Financial Crimes Working Group meets the APG Secretariat and Assessment Team this week for the APG Pre-Mutual Evaluation Workshop at the Reserve Bank. The workshop will focus on Tonga’s draft technical compliance, effectiveness response, risk and scoping issues and preparations for the on-site mutual evaluation of Tonga in October.
Reserve Bank celebrates its Pearl Jubilee
- Details
- Category: Press Release
- Created: 23 July 2019
Established on 1st July 1989, the National Reserve Bank of Tonga celebrated its 30th Anniversary on Friday 12th July 2019 at the Reserve Bank's Conference Centre, with a Thanksgiving Service. Lord Ma'afu and other distinguished guests including former employees, members from the public and private sectors joined the celebration. Read below for more information.
Banking Sector Development for March 2019
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- Category: Economic Releases
- Created: 20 June 2019
The banks’ lending for March 2019 was a total of $484.9 million, marking a slight rise of 0.2% over the month and 9.3% annual growth. This was largely driven by higher lending to businesses which outweighed the decline in both individuals and other loans. Read more of the Banking Sector Development for March 2019 for more information
Monetary Policy Decision - June 2019
- Details
- Category: Press Release
- Created: 18 June 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 14th June 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Unauthorized Foreign Exchange Services
- Details
- Category: Press Release
- Created: 14 June 2019
The Reserve Bank wishes to advise the public that it is aware that certain retail shops throughout Tongatapu and the outer islands are providing foreign exchange services without a valid license more specifically cash conversion of foreign currency.
Monetary Policy Decision - May 2019
- Details
- Category: Press Release
- Created: 16 May 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 14th May 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Currency Redesign Concept for the 5 & 10 Seniti
- Details
- Category: Public Notice
- Created: 08 May 2019
In accordance with Clause 45 of the Constitution of Tonga and Section 25 of the National Reserve Bank of Tonga Act, the Bank made changes to Tonga’s current 5 & 10 seniti circulating coins to be easily identified by the public for their everyday cash transactions.
Monetary Policy Decision - April 2019
- Details
- Category: Press Release
- Created: 07 May 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 30th April 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
