The Governor of the Reserve Bank has welcomed the revision of the outlook for Fiji from negative to stable by Standard and Poors.

The agency's revised outlook for Fiji is upwards, from negative to stable.

According to Radio Australia, analyst Kyran Curry said the improved ratings outlook is based on the expectation that Fiji's foreign reserves well continue to stabilize.

He added this rise is attributed to the 20 percent devaluation of the Fiji dollar in April, the Reserve Bank's capital controls, special drawing rights allocated to Fiji by the International Monetary Fund and improvements in tourism.

Sada Reddy said the stable ratings reflects well on the stability of the financial conditions in Fiji and augurs well or Fiji's international credit ratings in the event Fiji wishes to borrow in the international money markets.

Another review will be carried out by the agency in February.