National Reserve Bank of Tonga

The National Reserve Bank of Tonga was established on July 1, 1989, succeeding the Bank of Tonga, which had acted as the kingdom's monetary authority since 1974, and is headquartered in the capital, Nuku'alofa. It regulates the issue and supply of domestic and international currency, works to promote monetary stability and economic development, advises the finance ministry, acts as the government's principal banker, and supervises financial institutions. The bank issues the Tongan pa'anga and is wholly state owned, with foreign reserves reported at roughly 140 million US dollars. Governors serve renewable five year terms; Tatafu Moeaki became governor in December 2022, succeeding Sione Ngongo Kioa. The bank's own headquarters building stands eighteen metres tall, among the tallest structures in Tonga, and also houses the Embassy of Japan. The bank is a member of the Alliance for Financial Inclusion.