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).”