Reserve Bank of Tonga makes further tweaks to exchange controls

The governor of the Reserve Bank of Tonga has announced further changes to the bank's exchange controls, following on from tweaks made in June 2016.

In a statement published on February 3, Sione Ngongo Kioa said that in light of the central bank's "very high level of foreign reserves" and the current monetary policy stance, there was a need to "improve the clarity of the requirements".

Among the changes is a limit of T$100,000 ($46,000) on capital payments, which will include transactions such

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