Foreign Reserves declined by $11.7 million over March

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $11.7 million over the month of March 2017 to $366.0 million, equivalent to 6.8 months of imports. Over the past year, the official foreign reserves rose by $48.7 million.

OFFICIAL FOREIGN RESERVES
(millions of pa'anga)

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

 2015        
Oct 315.8 4.1 44.3 7.1
Nov 319.0 3.2 51.1 7.1
Dec 327.8 8.8 34.2 7.1

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

 2017        
Jan 380.8 2.0 54.5 7.2
Feb 377.7 -3.1 49.2 7.1
Mar 366.0 -11.7 48.7 6.8

Source: National Reserve Bank of Tonga
i - Method of calculation changed in February 2017 to include imports of both goods and services (previous method used imports of goods only).

For further details, please contact:

National Reserve Bank of Tonga 
Telephone: (676) 24057 | Fax: (676) 24201 
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

You are here: Home ARCHIVES Foreign Reserves declined by $11.7 million over March