Foreign Reserves rose by $23.9 million over February

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $23.9 million over the month of February 2018 to $448.0 million, equivalent to 8.1 months of imports. The rise was mainly attributed to receipts of $22.6 million, for the Tropical Cyclone Gita Relief fund. Over the past year, the official foreign reserves rose by $70.3 million.

OFFICIAL FOREIGN RESERVES

(millions of pa'anga)

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

2016        
Oct 367.0 3.3 51.2 7.0
Nov 360.9 -6.1 41.9 6.7
Dec 378.8 17.9 51.0 7.1

 2017        
Jan 380.8 2.0 54.5 7.1r
Feb 377.7 -3.1 49.2 6.9r
Mar 366.0 -11.7 48.7 6.7r
Apr 371.7 5.7 48.8 6.7r
May 392.3 20.6 61.6 7.1r
Jun 407.9 15.6 53.0 7.5r
Jul 408.9 1.0 41.5 7.7r
Aug 405.0 -3.9 38.7 7.5r
Sep 403.0 -2.0 39.3 7.4r
Oct 413.6 10.6 46.6 7.6r
Nov 424.8 11.2 63.9 7.8r
Dec 422.5 -2.3 43.7 7.7r

2018        
Jan  424.1 1.6 43.3 7.7r
Feb 448.0 23.9 70.3 8.1

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).
r - Revisions was due to the receipt of updated Trade data from Statistics Department for the December 2016 quarter and the receipt of the import data from the Ministry of Revenue & Customs up to December 2017.

Enquiries

National Reserve Bank of Tonga
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NUKU'ALOFA

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

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Resources

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