2 Pa'anga - Taufa'ahau

Tonga's National Reserve Bank was established in 1989, replacing the Bank of Tonga, and this series — printed by De La Rue in London — was among the first issued under its authority. The Pa'anga had been Tonga's currency since 1967, when it replaced the Pound at par, and De La Rue had held the printing contract through successive institutional changes.

The note carries a watermark as its sole documented security feature, which by the early 1990s was already considered minimal for a circulating banknote. Tonga's small population and limited cash economy reduced counterfeiting pressure, and the series ran through 1995 before being superseded.