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.
Banking Sector Development for April 2021
- Details
- Category: Economic Releases
- Created: 22 July 2021
Over the month and year to April 2021, broad money grew by $4.8 million (0.7%) and $130.8 million (22.5%), respectively, to a new high level of $712.3 million. This reflects consistent increases in the currency in circulation and deposits in the banking system. The net domestic assets improved over the month and outweighed the decline in net foreign assets.
Overseas Exchange Transactions for April 2021
- Details
- Category: Economic Releases
- Created: 21 July 2021
Official foreign reserves declined over the month of April 2021 by $6.0 million to $679.7 million, equivalent to 11.9 months of imports. This was mainly attributed to large payments for offshore investments during the month. Nevertheless, foreign reserves increased significantly over the year by $193.7 million to $204.6 million, underpinned by receipts of budget support, official grants, external debt and remittances.
Foreign Reserves Statistics for June 2021
- Details
- Category: Financial Statistics
- Created: 20 July 2021
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose over the month of June 2021 by $25.7 million to $715.2 million, equivalent to 12.5 months of imports. This monthly increase in foreign reserves was mostly attributed to receipts of budget support and project funds from development partners. Similarly, foreign reserves rose substantially over the year by $171.4 million supported by higher receipts of budget support, official grants, external debt, and remittances.
Monthly Economic Review for April 2021
- Details
- Category: Economic Releases
- Created: 07 July 2021
Domestic economic growth is anticipated to remain subdued. However, the Reserve Bank's monetary policy stance remains accommodative. The Reserve Bank will continue to monitor emerging risks prompted by uncertainties surrounding the COVID-19 pandemic, impacting economic growth and potentially impairing financial stability.
Release of the 2020 Series $50 Banknote
- Details
- 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
- Details
- 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.
Remittances for March 2021
- Details
- Category: Economic Releases
- Created: 09 June 2021
The total remittance receipts for March 2021 increased significantly by $10.6 million (32.4%) to a total of $43.5 million and is the second-highest level of monthly remittance receipts recorded to date. All categories of remittance receipts except for private capital transfers increased over the month.
Statement by Sione Ngongo Kioa, Governor: Monetary Policy Decision - April 2021
- Details
- Category: Press Release
- Created: 05 May 2021
The National Reserve Bank of Tonga’s Board of Directors at its meeting on the 30th of April 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
Financial Intelligence Quarterly Reports for March 2021
- Details
- Category: Financial Intelligence
- Created: 30 April 2021
The unit noted a decrease in number of reports submitted by the reporting financial institutions over this quarter compared to the previous quarter, except BCRs. The number of CTRs shows a significant increase compared to the same time last year.
Statement by Sione Ngongo Kioa, Governor: Monetary Policy Decision - March 2021
- Details
- Category: Press Release
- Created: 06 April 2021
The National Reserve Bank of Tonga’s Board of Directors at its first board meeting for the year, on the 31st of March 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
Monetary Policy Decision - February 2021
- Details
- Category: Press Release
- Created: 08 March 2021
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 1st of March 2021, approved to maintain its current monetary policy measures outlined below. 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.
Licensing of Moneylenders in Tonga
- Details
- Category: Press Release
- Created: 03 February 2021
The Reserve Bank would like to acknowledge those who made an effort to register their moneylenders. However, the general public is hereby informed that the deadline for Moneylenders Registration is extended to Friday 5th February 2021.
Also read in Tongan: Laiseni 'o e Kautaha Nō atu 'a e Pa'anga 'i Tonga.
Statement by Sione Ngongo Kioa, Governor: Monetary Policy Decision - January 2021
- Details
- Category: Press Release
- Created: 29 January 2021
The National Reserve Bank of Tonga’s Board of Directors at its first board meeting for the year, on the 27th of January 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
