For the fiscal year ending July 31, 2023, the Reserve Bank of Fiji (RBF), the country’s central bank, achieved a considerable profit of 102.2 million Fijian dollars (45.1 million US dollars).
On Monday, the cheque was presented to Deputy Prime Minister and Minister for Finance Biman Prasad, who complimented the RBF on managing the Fijian currency to an all-time high profit.
RBF Governor Ariff Ali stated that the all-time profit was the result of rising interest rates in global financial markets and wise management of the country’s foreign reserves invested in key trading partner economies.
Ali emphasized that, despite global economic difficulties, mostly as a result of tighter monetary policy in major countries, the Fijian economy is on track for recovery.