Foreign Reserves rose by $9.8 million over December
- Details
- Category: Press Release
- Created: 21 January 2019
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $9.8 million over the month of December 2018 to $478.5 million, equivalent to 7.6 months of imports. Similarly, the official foreign reserves increased over the year by $56.0 million. The growth over the year resulted mainly from higher receipts of budgetary support, grants and cyclone relief funds from development partners. Furthermore, higher receipt of remittances during the year contributed to the annual increase.
OFFICIAL FOREIGN RESERVES
(millions of pa'anga)
| Level | Changes |
Ration of official foreign reserves to imports i (months) | ||
| Month | 12 Months | |||
| 2017 | ||||
| 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 | 7.4 |
| 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 | 7.8 |
| Aug | 475.0 | -1.5 | 70.0 | 7.6 |
| Sep | 452.2 | -22.8 | 49.2 | 7.2 |
| Oct | 457.3 | 5.1 | 43.7 | 7.3 |
| Nov | 468.7 | 11.4 | 43.9 | 7.4 |
| Dec | 478.5 | 9.8 | 56.0 | 7.6 |
| 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 180 KB - Download a copy of the full press release. |
| See more Press Releases in 2018. |
