Money & Banking

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Money and Banking

A monetary survey is compiled on a monthly basis in accordance with the analytical framework of the IMF’s Guide to Money and Banking Statistics 1984 and presented as stock data in millions of Tongan Pa’anga (TOP$).

The broad money survey is compiled by the Research Department of the National Reserve Bank of Tonga (NRBT) based on monthly prudential  reports of transactions and stocks provided to NRBT by the 3 commercial banks and 1 monetary financial institution (NMFI) resident in Tonga.  Data are published in the NRBT’s Quarterly Bulletin and are presented in millions of Tongan Pa’anga (TOP$).

The data in this table is reproduced from the Reserve Bank of Tonga Quarterly Bulletin.  For quarterly money and banking statistics please go to www.reservebank.to for more detail information.

Broad money and credit aggregates: year ended  30 June, T$ million

2007-082008-092009-102010-20112011-12
Net external position-2.51634.258.5n.a
Net Domestic credit286.5273.9251.3208.4165.8
Broad money supply282.8277.3302.5299.2293.2
Narrow money supply72.5999999999999977.9000000000000197.896.90000000000001118.1
Central bank aggregates      
Monetary base(a)64.793.40000000000001108.2143.4173
  Currency on issue24.128.232.934.538.5
  Required reserves29.629.514.815.916.3
  Domestic banks demand deposits1135.860.593118.2

Source: National Reserve Bank of Tonga Quarterly Bulletin

Interest Rate

The National Reserve Bank of Tonga disseminates or re-disseminates data on the following interest rates in Tonga:•  NRBT minimum lending rate• Commercial banks lending rate (published rates, weighted average )•  Commercial banks deposit rate•  Times deposit rate (published and weighted average)•  Savings deposits rate (published and weighted average)• Government bond rates (1 and 5 years) (average yields)

Selected overseas interest rates are also re-disseminated quarterly Further details on interest rates over time are published by the NRBT in the National Reserve Bank of Tonga "Quarterly Bulletin". In particular: monthly and quarterly average rates on loans and advances of commercial banks by industry and overnight inter-bank rates are available on request.  

Selected Interest rates on Deposits and Bank lending: Year ended 30 June, Percent per annum

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Interest rates on Deposits by Original maturity

 2006-072007-082008-092009-102010-11
Deposits     
By original maturity(a)     
3 months6.256.25.94.143.7
6 months6.776.665.964.313.92
12 months7.087.046.334.614.17
24 months7.087.046.584.734.32
36 months7.087.066.644.744.32
48 months7.387.346.745.583.1
Weighted average of term and savings deposites (b)5.755.755.263.791.57
Weighted average on savings deposits3.23.22.061.523.39

Bank Lending(including Selected rates on commercial bank loans and selected rates on non-monetary financial institutions)

Bank lending     2006-072007-082008-092009-102010-11
Selected rates on commercial bank loans     
Prime range rate (c)9.38000000000000110109.589.58
Residential homes(d)10.7511.511.929.9700000000000019.17
Selected rates on non-monetary financial institutions      
Prime range rate(e)111110.5108
Business loans maximum rate(f)15.515.51514.514
Small scale subsistence(g)11.511.51110.510

Source: National Reserve Bank of Tonga Quarterly Bulletin

Exchange Rate

The official rates are derived from the Reserve Bank calculation of the Pa’anga/U.S. dollar exchange rate (based on a trade-weighted basket system). The Reserve Bank quotes daily buying and selling rates for the US dollars against the pa’anga. These rates generally form the basis of the commercial banks publicly quoted foreign exchange dealing rates.

End-of-period midpoint rates and period average (monthly for the previous 12 months and annual for the previous 5 years) for 7 currencies (U.S. dollar, Pound Sterling, Australian dollar, New Zealand dollar, Japanese Yen, Fijian dollars and the EURO) are published.

The composition of the baskets for the trade weighted exchange rate index and and the weights of the currencies are reviewed at least once a year.

Data are compiled and are available daily and disseminated quarterly. Published are mid-point official rates at the end of the month for 7 major trading currencies. The quarterly bulletin also published end of period average and an end of period average exchange rates.

Selected foreign exchange rates, units per pa'anga

2006-072007-082008-092009-102010-11
At 30 June 
Australian dollar0.60370.55850.60730.59740.5517
New Zealand dollar0.66430.70620.75290.73250.7125
United States dollar0.51310.54070.49670.51230.5911999999999999
Japanese yen63.1457.360347.616945.310247.7699
United Kingdom pounds sterling0.25610.27070.29940.340.3691
European Union euro0.38150.3430.35250.42060.4109
Fijian dollar0.78050.78310.97780.9830.9866
Period average for year ended 30 June   
Australian dollar0.63080.58370.64290.58170.5481
New Zealand dollar0.72390.68120.78879999999999990.72960.7137
United States dollar0.49860.52660.48030.51759999999999990.5452
Japenese yen59.066757.90547.453447.315845.2699
Unbited Kingdom pounds sterling0.25760.26260.30.32760.3434
European Union euro0.38140.35840.35020.37310.4008
Fijian dollar0.80530.78069999999999990.8340.97690.9603

Source: National Reserve Bank of Tonga Quarterly Bulletin

  Contact Organization: mail National Reserve Bank (NRBT)