Foreign Reserves declined by $3.1 million over February

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $3.1 million over the month of February 2017 to $377.7 million, equivalent to 7.1 months of imports. Over the past year, the official foreign reserves rose by $49.2 million.

OFFICIAL FOREIGN RESERVES
(millions of pa'anga)

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

 2015        
Sep 311.7 0.8 40.8 6.9 r
Oct 315.8 4.1 44.3 7.1 r
Nov 319.0 3.2 51.1 7.1 r
Dec 327.8 8.8 34.2 7.1 r

2016        
Jan 326.3 -1.5 39.1 7.1 r
Feb 328.5 2.2 47.2 7.1 r
Mar 317.3 -11.2 47.1 6.7 r
Apr 322.9 5.6 50.8 6.7 r
May 330.7 7.8 48.9 6.8 r
Jun 354.9 24.2 65.2 7.2 r
Jul 367.4 12.5 64.8 7.4 r
Aug 366.3 -1.1 55.4 7.3 r
Sep 363.7 -2.6 52.0 7.1 r
Oct 367.0 3.3 51.2 7.2 r
Nov 360.9 -6.1 41.9 7.0 r
Dec 378.8 17.9 51.0 7.2 r

 2017        
Jan 380.8 2.0 54.5 7.2 r
Feb 377.7 -3.1 49.2 7.1 r

Source: National Reserve Bank of Tonga
r - Revisions based on latest trade data issued by Statistics Department for April 2016 and methodology used for this calculation has changed to include both imports of goods and services.

For further details, please contact:

National Reserve Bank of Tonga 
Telephone: (676) 24057 | Fax: (676) 24201 
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