Convert NZD to TOP Exchange Rate

The lowdown on the Tongan Pa’anga

Economical Influences on the Tongan Pa’anga Exchange Rate

If you are considering converting AUD to TOP, it’s good to get a snapshot on how the economy may influence the Tongan pa’anga.

The island nation of Tonga is the last constitutional monarchy in the South Pacific and has a small, open island economy.¹

Majority of Tonga’s exports are agricultural goods; with large quantities of fish, vanilla beans, squash and yams being exported annually.¹

Tourism is the second most-important industry when it comes to Tonga’s currency earnings, receiving more than 53,000 visitors in 2015 alone.¹

The Tongan pa’anga was pegged at par to the Australian dollar until 1991, but has progressively declined since then.²

Tongan Pa’anga Historical Exchange Rate

The TOP has fluctuated minimally against the NZD over the past 3-year period.³

On 9 July 2014 the pa’anga was converting to 1.62040 per NZD, improving over the next 14 months to 1.33430 per NZD on 6 September 2015.³

As of 8 September 2016 the New Zealand dollar was buying around 1.66 Tongan pa’anga, and on 12 May 2017 1 NZD was worth 1.57068 TOP.³

2018 saw some fluctuation with the TOP converting to 1.64048 per NZD on 14 February and 1.50459 per NZD on 15 October.³

As of 18 January 2019 the TOP was trading at approximately 1.52 per New Zealand dollar.³

<sup>Sources
1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/tn.html
2. OANDA - https://www.oanda.com/currency/iso-currency-codes/TOP
3. XE - https://www.xe.com/currencycharts/?from=NZD&to=TOP&view=5Y</sup>

^{*The information contained in this article has been compiled by Travelex from different different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex NZ Limted arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.}