Tonga Pa’anga (TOP)

The Tonga Pa’anga (TOP) is the official currency of the Kingdom of Tonga. Tonga is an island country located in the Pacific Ocean, and the Tonga Pa’anga is used as the country’s currency.

The Tonga Pa’anga is issued by the National Reserve Bank of Tonga and is used in the economic activities of Tonga. The currency also trades in international foreign exchange markets.

The ISO code for the Tonga Pa’anga is TOP, and its symbol is T$. The currency is divided into 100 seniti as its subunit. The seniti is the subunit of the Tonga Pa’anga and represents one percent of the currency.

The value of the Tonga Pa’anga can fluctuate in the foreign exchange markets and can appreciate or depreciate against other currencies. Factors that determine its value include Tonga’s economic conditions, inflation rate, interest rates, balance of trade, and international market conditions.

The Tonga Pa’anga is used as cash in Tonga and is widely accepted in trade transactions within the country. It is also used in the tourism sector as Tonga is a popular tourist destination known for its beautiful beaches and natural beauty.

The exchange rate of the Tonga Pa’anga is determined in the international foreign exchange markets and can be exchanged in currency exchange bureaus or banks. Tourists traveling to Tonga can use the local currency, Tonga Pa’anga, for their transactions.

In summary, the Tonga Pa’anga (TOP) is the official currency of the Kingdom of Tonga. It is used in the country’s economic activities and trades in international foreign exchange markets. The Tonga Pa’anga is used as cash in Tonga and plays a significant role in the tourism sector.