2018
Foreign Reserves recorded a $1.5 million over August 2018
- Details
- Category: Press Release
- Created: 11 September 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $1.5 million over the month of August 2018 to $475.0 million, equivalent to 7.7 months of imports. Over the past year, the official foreign reserves rose by $70 million. The annual growth was mainly attributed to receipts of budgetary support, grants and cyclone relief funds from development partners and higher remittances during the year.
OFFICIAL FOREIGN RESERVES
(millions of pa'anga)
| Level | Changes |
Ration of official foreign reserves to imports i (months) | ||
| Month | 12 Months | |||
| 2017 | ||||
| Apr | 371.7 | 5.7 | 48.8 | 6.7 |
| May | 392.3 | 20.6 | 61.6 | 7.1 |
| Jun | 407.9 | 15.6 | 53.0 | 7.5 |
| Jul | 408.9 | 1.0 | 41.5 | 7.5 |
| Aug | 405.0 | -3.9 | 38.7 | 7.4 |
| Sep | 403.0 | -2.0 | 39.3 | 7.3 |
| Oct | 413.6 | 10.6 | 46.6 | 7.5 |
| Nov | 424.8 | 11.2 | 63.9 | 7.7 |
| Dec | 422.5 | -2.3 | 43.7 | 7.6 |
| 2018 | ||||
| Jan | 424.1 | 1.6 | 43.3 | 7.5 |
| Feb | 448.0 | 23.9 | 70.3 | 7.9 |
| Mar | 447.7 | -0.3 | 81.7 | 7.8 |
| Apr | 445.9 | -1.8 | 74.2 | 7.7 |
| May | 441.9 | -4.0 | 49.6 | 7.5 |
| Jun | 468.7 | 26.8 | 60.8 | 7.8 |
| Jul | 476.5 | 7.8 | 67.6 | 7.9 |
| Aug | 475.0 | -1.5 | 70.0 | 7.8 |
| Source: National Reserve Bank of Tonga |
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| i - Method of calculation changed in February 2017 to include imports of both goods and services (previous method used imports of goods only). | ||||
Enquiries
National Reserve Bank of Tonga
Salote Road
NUKU'ALOFA
Telephone: (676) 24057
Fax: (676) 24201
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Resources
Press Release in English 33 KB - Download a copy of the full press release. |
| See more Press Releases in 2018. |
