Thursday 9 September 2010

FIJI: Remittances up after devaluation

REMITTANCES picked up in 2009 recording $294million. This, the Reserve Bank of Fiji said, was likely due to gains from the devaluation of the Fiji dollar in April.

Remittances remained the largest foreign exchange in the country after tourism, the central bank said in its 2009 annual report.

The growth was 56.5 per cent more than 2008 figures.

Much of the remittance revenue is sent home by servicemen and women in the British Army.

Previously a large percentage of remittances came from health workers and caregivers in the United States. Read more

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