Banking system liquidity increases to $617.7 million - RBF

Banking system liquidity increases to $617.7 million - RBF

By Vijay Narayan
09/10/2019

The Reserve Bank of Fiji states that the banking system liquidity increased in August by 21.9 percent to $617.7 million, on account of an increase in foreign reserves which more-than-offset the increase in currency in circulation deposits and statutory reserve. 

The RBF states that as at 27th September, liquidity stood at $628.2 million. 

It also says that over the month in August, the Fijian dollar strengthened against the Australian and NZ dollars but weakened against the Yen, US dollar and the Euro. Annually, the FJD appreciated against the AUD, Euro and the NZD but was lower against the Yen and the USD. 

The RBF also says that in the year to June, total exports (excluding aircraft) rose by 2.1 percent largely underpinned by growth in re-exports, while domestic exports declined mainly due to lower exports of woodchips; gold; soft drinks; animal and vegetable oils and fats; bauxite; and chemicals. 

In the same period, imports (excluding aircraft) declined by 4.0 percent attributed to lower imports of machinery and transport equipment (excluding aircraft); chemicals; and animal and vegetable oils and fats. 

Tourism earnings grew by 6.8 percent to total $895.4 million in the year to June 2019, compared to a 4.6 percent growth in the same period in 2018. Cumulative to August 2019, inward remittances grew by 6.2 percent to total $399.7 million, compared to the 10.6 percent growth in the corresponding period last year. The growth in inward remittances was largely driven by gifts, maintenance & donations in the review period. 

Annual inflation in August stood at 1.2 percent, slightly higher than the 0.7 percent in July but significantly lower than the 4.3 percent registered in August last year. 

The monthly outcome was underpinned by higher prices noted for the food and non-alcoholic beverages; alcoholic beverages, tobacco; and education categories. 

The year-end inflation rate is now forecast at 2.0 percent. 

Foreign reserves increased in August to $2.16 billion, sufficient to cover 5 months of retained imports. 

FEATURE NEWS
Bau delegation presents traditional gifts to Tui Nayau ahead of installation as Tui Lau
In recognition of the strong ties between Lau and the chiefly island of Bau, the Bauan delegation has presented its tradition gift to the Tui Nayau, R...
4 hours ago
LATEST NEWS
Māori and Vuanirewa chiefly families reconnect through Tui Lau installation
The Māori Queen, Te Arikinui Kuini Ngā Wai Hono i te Pō, and her family have been looking forward to witnessing the installation of the Sau kei ...
50 minutes ago

Lakeba Sub-divisional Hospital celebrate 50th anniversary
It was a day of celebration as the staff of Lakeba Sub-divisional Hospital celebrated the hospital's 50th anniversary with the daughter of the late ...
2 hours ago

Positive signs for Fiji as tariff talks continue ahead of extended August 1 deadline
As U.S. President Donald Trump's deadline for increased tariffs has been extended, Deputy Prime Minister and Minister for Finance, Professor Biman ...
3 hours ago

FCCC warns of AI-generated deepfake scam using fake news video and investment claims
People are being alerted to a highly deceptive scam video currently circulating online which is a deepfake, generated using artificial intelligence ...
4 hours ago

Radrodro urges students to research TSLS programs and choose career paths Fiji needs
Students should also know and do research about programs in the TSLS and not follow their friends while enrolling in courses that they regret ...
5 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Professor Prasad on fijivillage Straight Talk With Vijay Narayan
The show will focus on the 2025/2026 National Budget.
10 hours ago

Tui Nayau and Tui Lau Installation
The ceremony for the installation of the Tui Nayau Sau ni Vanua o Lau will be held tomorrow, while the installation ceremony of the Tui Lau will be held in Tubou on Thursday.
2 days ago

CFL 40th Birthday
CFL’s 40th Anniversary celebrations to culminate with free concert at Albert Park on ...
5 days ago

TOP