Fiji's foreign reserves have recovered strongly and are at $980 million as of last Friday.
Reserve Bank Governor Sada Reddy confirmed this at the 2nd Pacific Credit Union Congress in Nadi adding this was assisted by various policies put in place since mid-April.
He said this recovery comes after Fiji's balance of payment came under severe pressure over the last 24 months and more so early this year where foreign reserves dropped very rapidly to below $430 million.
Reddy said the tourism industry is picking up while declines in earnings from remittances are slowly reversing.
However, he added exports such as fish, timber, garments, bottled water and some other manufactured items are heavily dependent on the global recovery and as this improves, so too will these exports.
Foreign reserves recover strongly
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