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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.
Efforts are being made to discover ways to diversify. One hope is seen in fisheries; tests have shown that sufficient skipjack tuna pass through Tongan waters to support a fishing industry. Another potential development activity is exploitation of forests, which cover 35% of the kingdom's land area but are decreasing as land is cleared.
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 ]
Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10.. Most countries have decimalised their currencies, converting them from non-decimal sub-units to a decimal system, with one basic currency unit and sub-units that are valued relative to the basic unit by a power of 10, most commonly ...
Tongans or Tongan people are a Polynesian ethnic group native to Tonga, a Polynesian archipelago in the Pacific Ocean. Tongans represent more than 98% of the inhabitants of Tonga. The rest are European (the majority are British ), mixed European, and other Pacific Islanders .
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.
The Chinese authorities described them as "anti-China", and asked Tonga to take "immediate and appropriate actions" regarding a situation which might harm Sino-Tongan friendly relations. In another document that Radio Australia said it had obtained, Tonga's Secretary for Foreign Affairs instructed police and defence officials to help preserve ...