Foreign Reserve rises by $2 million [1]
Wednesday, April 21, 2010 - 16:50. Updated on Monday, September 9, 2013 - 18:40.
TONGA'S official Foreign Reserves held by the National Reserve Bank of Tonga for March rose by $2 million pa'anga to $155.5 million due to an official grant from the Asian Development Bank.
A statement from the NRBT on April 19 said the March foreign reserve was equivalent of 6.5 months of imports of goods for Tonga.
The rise reflected the receipt of official grant from the Asian Development Bank that was more than offset the repayment of foreign currency loan and import payments during the month.
The foreign reserves look better this year in comparison to March last year when it was only at $130.6 million.