December foreign reserves, Tonga's second highest in 2008 [1]
Thursday, January 15, 2009 - 13:37. Updated on Tuesday, January 13, 2015 - 20:50.
Tonga's foreign reserves increased by $1.2 million to $123.9 million in December 2008.
The December foreign reserves of $123.9 million is the equivalent of 4.9 months of imports of good for Tonga.
The National Reserve Bank of Tonga in a Press Release on Tuesday, January 13 stated that the rise was due to an increase in private capital inflow "which more than offset an increase in fuel import payments during the month."
The December foreign reserves was the second highest for 2008. The foreign reserve for September was the highest in 2008 at $128.5 million, the equivalent of five months of import for Tonga.