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However, due to the 2 Pa'anga coin's large size and weight and the awkward shape of the 1 pa'anga, they failed to compete against the 1 and 2 Pa'anga notes that were simultaneously issued so production of these denominations ended in the 1980s due to low commercial demand. All 1 and 2 pa'anga coins still remain legal tender but are rarely used.
The National Reserve Bank of Tonga (NRBT; Tongan: Pangikē Pule Fakafonua ʻo Tongá) is the central bank of Tonga.The Reserve Bank is responsible for regulating the issue and supply of domestic and international currency, as well as promoting monetary stability and economic development.
The history of Tonga is recorded since the ninth century BC, when seafarers associated with the Lapita diaspora first settled the islands which now make up the Kingdom of Tonga. [1] Along with Fiji and Samoa, the area served as a gateway into the rest of the Pacific region known as Polynesia . [ 2 ]
In 1936, one Tongan pound was devalued to be worth 16 shillings sterling, setting the Tongan pound equal to the Australian pound. Existing banknotes had the word "sterling" overstamped, later issues omitted the word altogether. In 1967, the pound was replaced by the pa'anga at a rate of £1 = T$2.
A currency symbol or currency sign is a graphic symbol used to denote a currency unit. Usually it is defined by a monetary authority, such as the national central bank for the currency concerned.
In 2021 the Tongan government committed to a target of 70% renewable energy by 2030. [4] In July 2012 Tonga Power opened Tonga's first solar photovoltaic generator, the 1.32 MW Maama Mai Solar Farm on Tongatapu. [5] [6] This was followed by a 6MW solar farm spread across three sites on Tongatapu. [7]
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The islands most regularly visited by Westerners were Ata, 'Eua, Ha'apai, Tongatapu, and Vava'u. Sometimes, Tongan men were recruited to serve as crewmen on these vessels. The United States Exploring Expedition visited Tonga in 1840. [21] In 1845, an ambitious young Tongan warrior, strategist, and orator named Tāufaʻāhau united Tonga into a ...