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Fiji, Uncategorized

Fiji Reserve Bank relaxes exchange controls

The Reserve Bank of Fiji has further relaxed exchange controls.

The bank’s Governor Barry Whiteside says the increased delegated limits means that’s there is confidence about the outlook on the level of foreign reserves, which is currently around $1.5 billion.

“The measures announced would result in improved efficiency for businesses as they will no longer be required to lodge their applications with the RBF,” he says.

The RBF has also allowed commercial banks to write more forward contracts for importers as well as re-introduce offshore investments for individuals up to $10,000 per family per annum.

More at the Fiji government website

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About Samantha Magick

Journalist and editor

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