Reserve Bank of Fiji

The Fiji Dollar is pegged to a basket of currencies.

Financial Inclusion has been examined in Fiji, which had a goal for digital services as follows –

–  Increase the percentage of adults using mobile money from 2% to 15% (79,000) by the year 2020.

– Increase Government digital payments from 75% to 90% by the year 2020.

The Banked population is around 60 percent.

Development Partners – 

PFIP, MDF, AFI, UNCDF,ADB, WB, IFC Donor
Agencies, NGOs, International Entities

PFIP – Pacific Financial Inclusion Program

MDF – Market Development Facility

UNCDF – UN Capital Development Fund

ADB – Asian Development Fund

WB – Word Bank

IFC – International Finance Corporation

When banks behind the currencies used by Fiji for pegging, then CBDCs could be a more realistic option for Fiji.

 

“Fiji has a fixed exchange rate system where the Fiji dollar (FJD) is pegged to a weighted basket of currencies comprising the Australian dollar (AUD), New Zealand dollar (NZD), United States dollar (USD), Japanese Yen (JPY) Euro (EUR) and the British Pound (GBP).”

 

By cryptorocks_editor

Editor.