SUVA, Sept. 25 (Xinhua) -- The Reserve Bank of Fiji (RBF), the country's central bank, has made a substantial profit of 102.2 million Fijian dollars (45.1 million U.S. dollars) for the financial year ending July 31, 2023.
The cheque was handed over to Deputy Prime Minister and Minister for Finance Biman Prasad on Monday who congratulated the RBF for managing the Fijian currency as this was an all-time high profit recorded by the central bank.
RBF Governor Ariff Ali said the all-time record profit resulted from higher interest rates in the global financial markets and prudent management of the nation's foreign reserves invested in major trading partner economies.
Ali highlighted that despite the weakness in the global economy, mainly as a result of tighter monetary policy in major countries, the Fijian economy remains firm on its recovery path. ■
