Foreign Reserves increased by $7.8 million over July

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) increased by $7.8 million over the month of July 2018 to $476.5 million, equivalent to 7.9 months of imports. Over the past year, the official foreign reserves rose by $67.6 million.

OFFICIAL FOREIGN RESERVES
(millions of pa'anga)

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

 2017        
Mar 366.0 -11.7 48.7 6.7
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 7.5r
Aug 405.0 -3.9 38.7 7.4r
Sep 403.0 -2.0 39.3 7.3r
Oct 413.6 10.6 46.6 7.5r
Nov 424.8 11.2 63.9 7.7r
Dec 422.5 -2.3 43.7 7.6r

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

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 September 2017 quarter and the receipt of the import data from the Ministry of Revenue & Customs up to May 2018.

Enquiries

National Reserve Bank of Tonga
Salote Road
NUKU'ALOFA

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

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Resources

Press Release in English
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