ANZ Fiji’s head of markets, Sanjay Chandran, has encouraged customers, particularly exporters, to utilize the foreign exchange tools offered by the bank to mitigate the risks associated with fluctuating currency values amid ongoing global trade tensions. He emphasized the importance of these tools, such as Forward Exchange Contracts, in navigating the uncertainties created by the trade war between the US and other nations.
Chandran’s remarks were timed with a visit from ANZ foreign exchange analyst Felix Ryan, who engaged with clients and delivered insights on global market trends. Ryan expressed that fluctuations in trade policies have considerably impacted markets worldwide, leading to a dynamic climate of uncertainty and occasional optimism.
During a recent press conference, Ryan highlighted significant movements in currency performance, noting that the Australian dollar (AUD) experienced a nearly four percent drop against the US dollar (USD) in early March 2025 but had recovered substantially since then. He also pointed out that the Fijian dollar (FJD) mirrored this trend in its exchange rate with the USD.
Looking ahead, Ryan projected a potential rise in the AUD, forecasting it to reach USD 0.65 by early 2026 and increase to USD 0.68 by the end of the year. A stronger AUD could positively affect Fiji’s economy by bolstering the FJD/USD exchange rate, which might offset the impact of higher tariffs on imports while presenting challenges for exporters who would face lower revenue in FJD when converting payments from the AUD or USD.
Chandran reassured clients that ANZ is committed to providing the necessary tools and insights to help navigate these risks effectively, supporting the growth of Fijian businesses amidst the volatility of the foreign exchange environment. The developments present an opportunity for the Fijian economy to adapt and potentially thrive as it maneuvers through the complexities of international trade dynamics.
The optimistic perspective shared by both Chandran and Ryan indicates that although challenges persist, Fiji’s diversified currency basket offers a natural hedge against volatility, which can ultimately lead to resilience and growth opportunities in the future.
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