Foreign Reserves Statistics for June 2020

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose considerably over the month and year to June 2020 by $54.2 million and $59.5 million respectively to $543.8 million. This is equivalent to 8.2 months of imports. The significant increase in foreign reserves was attributed to higher receipts of funds for budget support, projects, and financial assistance for COVID-19 preparations.

OFFICIAL FOREIGN RESERVES
(millions of pa'anga)

   Level Changes
Ration of official foreign reserves to imports (months)
Month 12 Months

2019        
Jan 478.9 0.4 54.8 8.1
Feb 473.5 5.4 25.5 7.9
Mar 465.0 -8.5 17.3 7.8
Apr 464.2 -0.8 18.3 7.5
May 468.3 4.1 26.4 7.5
Jun 484.3 16.0 15.6 7.9
Jul 492.9 8.6 16.4 8.0
Aug 491.8 -1.1 16.8 8.1
Sep 490.8 -1.0 38.6 8.0
Oct 489.3 -1.5 32.0 7.5
Nov 489.5 0.2 20.8 7.4
Dec 487.4 -2.1 8.9 7.4

2020        
Jan 482.9 -4.5 4.0 7.4r
Feb 479.8 -3.1 6.3 7.4r
Mar 457.5 -22.3 -7.5 7.1r
Apr 475.1 17.6 10.9 7.2r
May 489.6 14.5 21.3 7.4r
Jun 543.8 54.2 59.5 8.2

Source: National Reserve Bank of Tonga
r - Revisions to the months of imports were based on new trade data available from the Statistics Department for the January to March 2020 quarter

Official Foreign Reserves Collection

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