Press Release

Unauthorized Foreign Exchange Services

It has been brought to our attention that there are retail shops in Tonga that provide foreign exchange services to its customers, particularly foreign currency cash conversion without the required license. We are urging the public to please report to the Reserve Bank.

Fakafetongi Pa’anga Muli Ta’efakalao

‘Oku fakatokanga atu heni ki he kakai ‘o e fonua΄, ko e hia ‘a hono fakahoko ‘o e fakafetongi pa’anga muli ka ‘oku te’eki ai ma’u ha laiseni, pea ke ta’ofi leva ‘a e ngaue ta’efakalao ni ‘i he vave taha΄ pea fakahū mai ha’o tohi kole ki he Pangike Pule ke ma’u atu ha’o laiseni.

Monetary Policy Decision

The Governor of the Reserve Bank, Sione Ngongo Kioa, announced that the Board noted that the overall domestic economic activities, which were generally favourable, continued to support the Reserve Bank’s expectation of stronger growth for 2016/17. ...

Foreign Reserves rose by $2.0 million over January

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $2.0 million over the month of January 2017 to $380.8 million, equivalent to 9.8 months of imports. Over the past year, the official foreign reserves rose by $54.5 million.

Reserve Bank Eases Exchange Control Requirements

The Reserve Bank has eased its Exchange Control requirements as reflected in the revised Exchange Control Policy Guidelines which the Reserve Bank’s Board of Directors at its meeting on 2nd February 2017 has approved to be effective immediately.

Monetary Policy Decision

The Governor, Mr. Sione Ngongo Kioa, announced that in light of the strong economic fundamentals and the positive outlook, the Reserve Bank Board approved changes to three of its policy measures to reflect the current economic fundamentals ...

Foreign Reserves rose by $17.9 million in December

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $17.9 million over the month of December 2016 to $378.8 million, equivalent to 9.8 months of imports. Official foreign reserves rose by $51 million over the past year.

20 and 50 pa'anga Counterfeit Notes Received

The National Reserve Bank of Tonga has received five $50 pa'anga and two $20 pa'anga notes of the new design currency (King Tupou VI series) confirmed to be counterfeit notes.  The Reserve Bank is concerned that there could be more of such $50 and $20 counterfeit notes in circulation.

Official foreign reserves rose by $41.9 million over the past year.

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) fell by $6.1 million over the month of November 2016 to $360.9 million, equivalent to 9.1 months of imports. However, official foreign reserves rose by $41.9 million over the past year.

Reserve Bank recorded a $3.3 million rise in Foreign Reserves

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $3.3 million over the month of October 2016 to $367.0 million, equivalent to 9.3 months of imports. Official foreign reserves rose by $51.2 million over the past year.

Reserve Bank hosts a Micro, Small and Medium Enterprises Workshop

The NRBT hosted the MSMEs Workshop on Friday 4th November 2016 to support the development of Micro, Small and Medium Enterprises (MSMEs) sector through improving their access to finance. This is part of the Maputo Accord 2015 commitment that NRBT committed to at the AFI’s 7th Global Policy Forum on 4th September 2015 in Maputo, Mozambique.

July recorded a $12.5 million rise in Foreign Reserves

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $12.5 million over July 2016 to $367.4 million, equivalent to 10.4 months of imports. Official foreign reserves rose by $64.8 million over the past year.

Foreign Reserves recorded a $2.6m fall in September

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) fell by $2.6 million over the month of September 2016 to $363.7 million, equivalent to 10.3 months of imports. However, official foreign reserves rose by $52.0 million over the past year.

Sound Banking System despite the revocation of PICB licence

The National Reserve Bank of Tonga wishes to assure the public that despite the revocation of the banking licence of Pacific International Commercial Bank (PICB) effective from 26th July 2016, the banking system remains sound.

Reserve Bank won the Maya Declaration Award

The Alliance for Financial Inclusion’s (AFI) 8th annual Global Policy Forum (GPF), co-hosted by the AFI and the Reserve Bank of Fiji, in Nadi, Fiji on 7th - 9th September 2016 has concluded. This year’s GPF, Building the Pillars of Sustainable Inclusion, was the largest and most diverse forum the AFI Network has ever held.

June recorded a $24.2 million rise in Foreign Reserves

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $24.2 million over June 2016 to $354.9 million, equivalent to 10.1 months of imports. Official foreign reserves rose by $65.2 million over the past year.

Foreign Reserves recorded a $1.1m fall in August

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) fell by $1.1 million over the month of August 2016 to $366.3 million, equivalent to 10.4 months of imports. However, Official foreign reserves rose by $55.4 million over the past year.

Economic Updates to the Members of Parliament

The Governor of the National Reserve Bank of Tonga (NRBT), Dr. Sione Ngongo Kioa presented to the Members of Parliament (MPs) on 10th June, 2016 an update on the economy including the latest monetary and financial indicators. The monetary policy stance, policy actions by the NRBT and other issues were also discussed.

NRBT to attend the 2016 Alliance for Financial Inclusion (AFI) Global Policy Forum

Governor Kioa is leading a delegation from the National Reserve Bank of Tonga (NRBT) to attend the AFI’s 8th annual Global Policy Forum (GPF) in Nadi, Fiji on 7th - 9th September 2016. This forum is co-hosted by the AFI and the Reserve Bank of Fiji. The GPF is a platform for senior financial regulators to exchange ideas and engage in peer-to-peer learning activities. The theme of this year’s forum is “Building the Pillars of Sustainable Inclusion” which focuses on the development and improvement of national financial inclusion strategies and policies.

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Foreign Reserves rose by $7.8 million over May

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $7.8 million over May 2016 to $330.7 million, equivalent to 9.3 months of imports. Official foreign reserves rose by $48.9 million over the past year.

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