The Reserve Bank of Fiji has deposited $22.15 million into government coffers after recording a profit from its operations in 2007.
In a statement, RBF Governor Savenaca Narube, revealed that the RBF recorded a profit of over $20 million compared to $10.76 million in 2006, which is a direct result of the higher level of foreign reserves and higher interest rates abroad.
Narube said foreign reserves stabilized in the second half of 2007 and ended at $958.5 million from $880.1 million in 2006. He said this rise generally reflected the tightening stance of monetary policy which has helped slow down imports.
RBF Deposits $22.15m Into Govt Coffers
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