Press Release
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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.
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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.
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The National Reserve Bank of Tonga has received three $50 paánga notes of the new design currency confirmed to be counterfeit notes. The Reserve Bank is concerned that there could be more of such $50 counterfeit notes in circulation.
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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.
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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.
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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.
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The National Reserve Bank of Tonga wishes to inform the general public that the Reserve Bank has not received any report of a 1 Pa’anga counterfeit coin.
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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.
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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.
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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.
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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.
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The National Reserve Bank of Tonga wishes to inform members of the public that the NRBT Board of Directors approved the revocation of Pacific International Commercial Bank’s (PICB) bank license with immediate effect commencing from 26th July 2016.
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The NRBT wishes to advise that we have re-commenced the pay out of claims by depositors and creditors of the former PICB. Payments may be collected from the NRBT according to the procedures advised in earlier notices.
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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.
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Depositors and creditors of Pacific International Commercial Bank (PICB) are hereby advised to contact the office of the PICB located at the Loumaile Building in order to initiate the payout of your funds.
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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.
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Depositors and creditors of Pacific International Commercial Bank (PICB) are hereby advised to contact the office of the PICB located at the Loumaile Building in order to initiate the payout of your funds.
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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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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.
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The Governor Dr Sione Ngongo Kioa announced that the Reserve Bank has completed its annual review of the Exchange Control Policy Guidelines which was approved by the Reserve Bank’s Board of Directors on 31st May 2016. The revisions were based on consultations with the Ministry of Revenue and Customs, banks and authorised foreign exchange dealers and other members of the public.
