Authorized Foreign Exchange Services
- Details
- Created: 02 July 2020
As required by section 4(1) of the Foreign Exchange Control Act 2018, the authority to conduct foreign exchange business in Tonga is restricted only to Authorized Persons licensed by the National Reserve Bank of Tonga. Members of the public are hereby advised that the following entities are Authorized Persons licensed to deal in foreign exchange under the Foreign Exchange Control Act 2018.
Monetary Policy Decision - June 2020
- Details
- Created: 01 July 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 26th June 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.
Monetary Policy Decision - March 2020
- Details
- Created: 26 March 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 18th March 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 in order to support domestic economic activities and growth.
Monetary Policy Decision - May 2020
- Details
- Created: 03 June 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 29th May 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.
Monetary Policy Decision - February 2020
- Details
- Created: 26 March 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 25th February 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 in order to support economic growth and strengthen the monetary policy transmission mechanism.
Monetary Policy Decision - April 2020
- Details
- Created: 05 May 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 1st May 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.
Banking System is ready to address the impact of COVID-19
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- Created: 19 March 2020
The Governor reported that Tonga’s economic fundamentals are strong, however, the coronavirus (COVID-19) is expected to adversely impact the external account balances, the foreign reserves, the fiscal account and consequently economic growth. The Reserve Bank will continue to monitor and assess the coronavirus impact on the financial system and the economy, and will adjust these monetary policy measures, if required, to maintain financial and monetary stability.
Financial System Services Adjust to Comply with Government State of Emergency Rules relating to Covid-19
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- Created: 26 March 2020
The Reserve Bank continues to work together with Government, the Association of Banks and non-bank financial institutions to enhance preparedness to minimize the financial risks from Covid-19. At its Board of Directors meeting on the 26 March 2020, the Reserve Bank agreed to provide financial assistance to Government in its effort to provide financial relief to the sectors affected by the Covid-19 outbreak.
Monetary Policy Decision - January 2020
- Details
- Created: 24 January 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 21st January 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 in order to support economic growth and strengthen the monetary policy transmission mechanism.
2020