Reserve Bank of Fiji reports $11.8m profit

australian-dollars

The Reserve Bank of Fiji on Friday reported a profit of F$21.5m ($11.8m) for 2010, up from $16.6m in 2009, due to a higher than expected increase in the level of foreign reserves held at the central bank.

The central bank said the F$21.5m profit owed mainly to an increase in the value of its reserves from F$1.1 billion a year ago to F$1.3 billion at the end of 2010.

The Board of the Reserve Bank of Fiji decided not to set aside any profit to general reserves and transfer the full F$21.5m of prof

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