Papua New Guinean kina


Papua New Guinean kina

Infobox Currency
image_1 =
image_title_1 = 20 kina banknote
image_2 =
image_title_2 = 50 kina banknote
iso_code = PGK
using_countries = PNG
inflation_rate = 1.8%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2007 est.
subunit_ratio_1 = 1/100
subunit_name_1 = toea
symbol = K
plural = kina
plural_subunit_1 = toea
used_coins = 5, 10, 20, 50 toea, 1 kina
used_banknotes = 2, 5, 10, 20, 50, 100 kina
issuing_authority = Bank of Papua New Guinea
issuing_authority_website = www.bankpng.gov.pg

The kina (ISO 4217 code: "PGK") is the currency of Papua New Guinea. It is divided in 100 "toea". The kina was introduced on 19 April 1975, replacing the Australian dollar at par. The name comes from the "kina shell", which was traditionally used as currency in the Papuan region of the country.

"For earlier currencies used in Papua New Guinea, see New Guinea pound and New Guinea mark."

Coins

In 1975, coins were introduced for 1, 2, 5, 10 and 20 toea and 1 kina. The 1 and 2 toea were minted in bronze, with the others in cupro-nickel. The 1 kina is round and holed in the centre, this denomination was reduced in size starting from 2006 along with the withdrawal of the 1 and 2 toea coins and as from the 19 April 2007 is no longer legal tender . [cite web | author = Bank of Papua New Guinea | url= http://www.bankpng.gov.pg/index.php?option=com_content&task=blogcategory&id=0&Itemid=113 | title = Notes and coins of Papua New Guinea - Currency | accessdate=2007-05-29] .

In 1980, 50 toea coins were introduced but only issued in commemorative form without a standard design. [cite web | author = Bank of Papua New Guinea | url= http://www.bankpng.gov.pg/index.php?option=com_content&task=view&id=64&Itemid=116 | title = 50 toea coin | accessdate=2007-05-29]

Banknotes

On 19 April 1975, notes were introduced for 2, 5 and 10 kina that replaced the Australian dollar at par, so the colour scheme was the same. They circulated along with the dollar until the 1 January 1976 when the dollar ceased to be legal tender. The 20 kina was introduced in 1977, 50 kina in 1990, followed by 100 kina in 2005. All colouration of the individual denominations are the same as current and former Australian decimal currency. Starting from 1991, all the current Papua New Guinean banknotes have been produced in polymer rather than on paper.

A new issue of banknotes has been issued starting with the 50 kina in 1999 [http://www.banknoteworld.com/banknotes/papua_new_guinea/PapuaNewGuineaPNew-50Kina-(1999)_b.jpgPicture from Ronald Wise 50 kina banknote accessed 2008/04/29 ] , then the 100 kina in 2005, 2 [ http://www.banknotenews.com/files/tag-papua-new-guinea.html New 2 kina accessed 2008/04/29 ] and 20 kina in 2007 [ http://www.bankpng.gov.pg/index.php?option=com_content&task=view&id=357&Itemid=119 New 20 kina accessed 2008/04/29] and the 5 and 10 kina in 2008 [http://www.bankpng.gov.pg/index.php?option=com_content&task=view&id=365&Itemid=115 New 5 kina accessed 2008/04/29] [http://www.bankpng.gov.pg/index.php?option=com_content&task=view&id=366&Itemid=115 New 10 kina accessed 2008/04/29] . This makes all the denominations of the kina issued in polymer.

ee also

* Economy of Papua New Guinea

References

*
*

External links

* [http://www.bankpng.gov.pg/index.php?option=com_content&task=blogcategory&id=0&Itemid=113 Explanation of Notes & Coins] (Official Bank of PNG)Standard numismatics external links
world_coin_gallery_1_url = Papua
world_coin_gallery_1_name = Papua New Guinea
banknote_world_1_url = papua_new_guinea
banknote_world_1_name = Papua New Guinea
dollarization_1_url = pg
dollarization_1_name = Papua New Guinea
gfd_1_url = Papua_New_Guinea
gfd_1_name = Papua New Guinea
show_gfd_excel = Y

* [http://www.bankpng.gov.pg/new%20site/K100%20poster.pdf Bank of Papua New Guinea PDF]
* [http://www.numismondo.com/pm/png Papua New Guinea Paper Money]


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