Foreign Reserves recorded a $1.5 million over August 2018

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $1.5 million over the month of August 2018 to $475.0 million, equivalent to 7.7 months of imports. Over the past year, the official foreign reserves rose by $70 million. The annual growth was mainly attributed to receipts of budgetary support, grants and cyclone relief funds from development partners and higher remittances during the year.

OFFICIAL FOREIGN RESERVES

(millions of pa'anga)

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

 2017        
Apr 371.7 5.7 48.8 6.7
May 392.3 20.6 61.6 7.1
Jun 407.9 15.6 53.0 7.5
Jul 408.9 1.0 41.5 7.5
Aug 405.0 -3.9 38.7 7.4
Sep 403.0 -2.0 39.3 7.3
Oct 413.6 10.6 46.6 7.5
Nov 424.8 11.2 63.9 7.7
Dec 422.5 -2.3 43.7 7.6

2018        
Jan  424.1 1.6 43.3 7.5
Feb 448.0 23.9 70.3 7.9
Mar 447.7 -0.3 81.7 7.8
Apr 445.9 -1.8 74.2 7.7
May 441.9 -4.0 49.6 7.5
Jun 468.7 26.8 60.8 7.8
Jul 476.5 7.8 67.6 7.9
Aug 475.0 -1.5 70.0 7.8

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).

Enquiries

National Reserve Bank of Tonga
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NUKU'ALOFA

Telephone: (676) 24057
Fax: (676) 24201 

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Resources

Press Release in English
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