Tongan Paʻanga
Paʻanga
Currency Code
TOP
ISO 776
Symbol
TOP
Native: T$
Decimal Digits
2
Rounding: 0
Countries
TO
Using this currency
Currency Units
Major Unit
Name: paʻanga
Symbol: T$
Minor Unit
Name: seniti
Symbol:
Value: 0.01
Banknotes
Frequently Used
T$1T$2T$5T$10T$20T$50T$100
Coins
Frequently Used
5 seniti10 seniti20 seniti50 seniti
Plural Forms
English Plural
Tongan paʻanga
Native Plural
Paʻanga
Overview
The Tongan Paʻanga is the currency of Tonga, managed by the National Reserve Bank of Tonga. The economy is heavily dependent on remittances, agriculture, and tourism, making it vulnerable to external shocks.
Economy
- Tonga is a member of Pacific Islands Forum, Commonwealth, ACP.
- Main industries include: Tourism, Construction, Fishing.
- Tonga is part of the World Trade Organization.
- Imports are foodstuffs, machinery, transport equipment, fuels, chemicals.
- Major exports include squash, fish, vanilla beans, root crops, kava.
- GDP: $0.5 billion (2023 est.).
- GDP per capita: $4,846 (2023 est.).
- Unemployment rate: 1.1% (2011 est.).
- Inflation rate: 7.4% (2023 est.).
- Main trading partners: New Zealand, Japan, Australia, United States, Fiji.
- Trade agreements: PACER Plus, Various bilateral agreements.
History
- Previous currencies used: Tongan pound, Australian pound.
- The paʻanga was introduced in 1967, replacing the Tongan pound. It was named after a traditional Tongan unit of value and has maintained relative stability.
- 1967: TOP introduced, replacing Tongan pound
- 1989: National Reserve Bank of Tonga established
- 2006: Political riots and economic impact
- 2020: COVID-19 pandemic closes borders
- 2022: Hunga Tonga volcanic eruption impact
- Exchange rate peg: Basket of currencies (managed).
- Currently pegged to Basket of currencies at Variable (approximately 2.35 TOP per USD).
General Information
- ISO 4217 Code: TOP
- Symbols: TOP/T$
- Currency Subunits: 100 seniti
- Central Bank: National Reserve Bank of Tonga
- Monetary Policy: Basket peg system maintaining stability. Focus on supporting small island economy dependent on remittances and tourism.
- Bills: 1 TOP, 2 TOP, 5 TOP, 10 TOP, 20 TOP, 50 TOP, 100 TOP
- Coins: 1 seniti, 2 seniti, 5 seniti, 10 seniti, 20 seniti, 50 seniti, 1 paʻanga, 2 paʻanga
- USD Exchange Rate: Variable (approximately 2.35 TOP per USD)
- Pegged To: Basket of currencies at Variable (approximately 2.35 TOP per USD)
- Capital: Nuku'alofa
- Population: 104,494 (2023 est.)
- Area: 747 km²
- Languages: Tongan (official), English (official)
- Time Zones: UTC+13 (Tonga Time)
- Government Type: Constitutional monarchy
- Head of Government: King (head of state), Prime Minister (head of government)
- Independence: June 4, 1970 (from United Kingdom protection)
- Ethnic Groups: Tongan 97%, Part-Tongan 0.8%, Other 2.2%
- Religions: Protestant 64.1%, Mormon 18.6%, Roman Catholic 14.2%, Other 2.4%, None 0.5%, Unspecified 0.1%
- Literacy Rate: 99.4% (2018 est.)
- Transport: Fuaʻamotu International Airport, inter-island flights, limited road network, ferry services
- Communications: Basic telecommunications, 54% internet penetration, mobile coverage on main islands
- Energy: Fossil fuels 85%, Renewables 15% (growing solar capacity)
- Countries Using This Currency: Tonga
- Data Sources: Central Bank: National Reserve Bank of Tonga (reservebank.to), Economic Data: Tonga Statistics Department, World Bank, IMF, Trade Data: Tonga Customs Service, Demographic Data: Tonga Statistics Department, Geographic Data: Tonga Meteorological Service, Historical Data: National Reserve Bank of Tonga archives
- Last Updated: 2025