Welcome to the Central Bank of Samoa

The Central Bank of Samoa is the nation's reserve bank and, as such, it acts as a bank to the Government and the commercial banks.

What's New

Credit Registry

The Central Bank of Samoa is extending another opportunity to the public for comments on our draft Samoa Credit Information Registry (SCIR) Bill, an essential legislative proposal aimed at enhancing the transparency and efficiency of credit reporting in Samoa.

REVIEW OF FOREIGN EXCHANGE CONTROL POLICIES AND GENERAL REMINDERS ON FOREIGN EXCHANGE CONTROL

Following the completion of the Annual Review of Foreign Exchange Control Policies and Procedures, the Central Bank of Samoa (CBS) wishes to advise that there are no changes to be made in 2024. Consequently, the prevailing Exchange Control Policies remains effective and valid to date until notified otherwise should economic conditions change drastically over the next twelve months.

Samoa attends the Inaugural Pacific Banking Forum in Brisbane, Australia

Honourable Minister of Finance, Afioga Lautimuia Uelese Vaai led Samoa’s delegation (that included officials from the Central Bank of Samoa, Ministry of Finance and the Samoa International Finance Authority (SIFA)) to the first Pacific Banking Forum held from 8 – 9 July in Brisbane, Australia. The Forum, co-hosted by the Governments of the United States of America and Australia, convened following a commitment made in 2023 by Australia Prime Minister Albanese and USA President Biden to address the withdrawal of correspondent banking relationships (CBR) in the Pacific region.

Key Statistics

August 2024

Official Interest Rate 0.37%
Commercial Banks Lending rates 8.44%
Commercial Banks Deposit rates 1.52%
Headline Inflation Rate 2.8%
Official International Reserves SAT$1,378.3M
Import Cover (Good only) 13.2months

Real GDP

2018/19 SAT$2,191M (+4.5%)
2019/20 SAT$2,123M (-3.1%)
2020/21 SAT$1,972M (-7.1%)
2021/22 SAT$1,868M (-5.3%)

2022/23 SAT$2,017M(+8.0%)

Nominal GDP

2018/19 SAT$2,390M (+6.0%)
2019/20 SAT$2,344M (- 1.9%)
2020/21 SAT$2,169M (- 7.5%)
2021/22 SAT$2,169M (- 0.2%)
2022/23 SAT$2,551M (+17.6%)

Nominal GDP Per Capita
2018/19 SAT$11,947per person
2019/20 SAT$11,625per person
2020/21 SAT$10,633 per person
2021/22 SAT$10,507 per person
2022/23 SAT$12,175 per person

Daily Exchange Rates

Tuesday 15 October 2024

Midrate:
SAT/USD - 0.36512 per SAT $1
Commercial Banks Outer Limit T/T per SAT$1
SAT/USD:
Sell - 0.35662 Buy - 0.37362