Papua New Guinean kina

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Papua New Guinean kina
K50back.jpg
Commemorative K50 Note
ISO 4217 code PGK
Central bank Bank of Papua New Guinea
 Website www.bankpng.gov.pg
User(s)  Papua New Guinea
Inflation 1.8%
 Source The World Factbook, 2007 est.
Subunit
 1/100 toea
Symbol K
Plural kina
 toea toea
Coins 5, 10, 20, 50 toea, 1 kina
Banknotes 2, 5, 10, 20, 50, 100 kina

The kina (ISO 4217 code: PGK) is the currency of Papua New Guinea. It is divided into 100 toea. The kina was introduced on 19 April 1975, replacing the Australian dollar at par. The name kina is derived from Kuanua of the Tolai region, referring to a callable pearl shell used widely for trading in both the Coastal and Highlands areas of the country.

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

Coins[edit]

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 cupronickel. The 1 kina is round and holed in the centre, this denomination was reduced in size starting from 2006, and the larger coin was demonetised from the 31 December 2008. 2008 also saw the introduction of a bimetallic 2 kina coin intended to replace the 2 kina note.[1] The withdrawal of the 1 and 2 toea coins also occurred in 2006 and as from the 19 April 2007 are also no longer legal tender.[2] In 1980, 50 toea coins were introduced but only issued in commemorative form without a standard design.[3]

Denomination Circulates
since
Composition Shape Diameter Edge Observe Reverse
Ring Center
5 Toea
1975
Copper-nickel
Round
19,5 mm
Milled
Turtle
National emblem
10 Toea
1975
Copper-nickel-zinc
Round
23,7 mm
Milled
Cuscus
National emblem
20 Toea
1975
Copper-nickel
Round
28,6 mm
Milled
Cassowary
National emblem
50 Toea
1980
Copper-nickel
Heptagonal
30 mm
Milled
Commemorative
National emblem
1 Kina
1975
Aluminium bronze
Round
27,5 mm
Milled
Crocodiles
National emblem

Banknotes[edit]

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 1988, followed by 100 kina in 2005. All colouration of the individual denominations are the same as current and former Australian decimal currency. Beginning in 1991, Papua New Guinea's banknotes have been produced on polymer, although in 2009 the bank issued Kina & Toea Day commemorative notes on paper substrates.[4]

A new issue of banknotes has been issued starting with the 50 kina in 1999,[5] then the 100 kina in 2005, 2[6][7] and 20 kina in 2007 [8] and the 5 and 10 kina in 2008.[9][10] This makes all the denominations of the kina issued in polymer.

Banknotes of the Papua New Guinean kina (1975 issue)
Image Value Obverse Reverse Remarks
[1] 2 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Artifacts White printing on all corners of the note
[2] 5 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Mask White printing on all corners of the note
[3] 10 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Bowl, ring, artifacts Whites printing on all corners of the note
[4] 20 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Boar, conches White corners on all corners of the note
Banknotes of the Papua New Guinean kina (1981 issue)
Image Value Obverse Reverse Remarks
[5] 2 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Artifacts Full printing on the note except on the watermark area
[6] 5 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Mask Full printing on the note except on the watermark area
[7] 10 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Bowl, ring, artifacts (1st version): Lighter toned colors used for the full printing of the note except for the watermark area
[8] 10 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Bowl, ring, artifacts (2nd version): Darker toned colors used for the full printing of the note except for the watermark area; addition of the registration device on the right side of the note
[9] 20 kina Bird of Paradise, spear, carved "hour glass" drum (typical for the Highlands and the yearly Goroka Show) Boar, conches Full printing on the note except on the watermark area
[10] 50 kina The Parliament building in Port Moresby Prime Minister Michael Somare
Banknotes of the Papua New Guinean kina (Current issue)
Image Value Obverse Reverse Remarks
[11] 2 kina The Parliament building in Port Moresby Artifacts Printed on polymer and the first two numbers of the serial number give the last two numbers of the year of issue
[12] 5 kina The Parliament building in Port Moresby Mask Printed on polymer and the first two numbers of the serial number give the last two numbers of the year of issue
[13] 10 kina The Parliament building in Port Moresby Bowl, Ring and Artifacts Printed on polymer and the first two numbers of the serial number give the last two numbers of the year of issue
[14] 20 kina The Parliament building in Port Moresby Boar, conches Printed on polymer and the first two numbers of the serial number give the last two numbers of the year of issue
[15] 50 kina The Parliament building in Port Moresby Prime Minister Michael Somare Printed on polymer and the first two numbers of the serial number give the last two numbers of the year of issue
[16] 100 kina The Parliament building in Port Moresby Tanker, airplane, truck, radio tower Printed on polymer and the first two numbers of the serial number give the last two numbers of the year of issue
Current PGK exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD SGD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD SGD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD SGD
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD SGD
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD SGD

See also[edit]

Notes[edit]

  1. ^ Bank of Papua New Guinea. "Withdrawal of Large Sized K1 Coin from Circulation". Retrieved 2010-01-16. 
  2. ^ Bank of Papua New Guinea. "Notes and coins of Papua New Guinea - Currency". Retrieved 2007-05-29. 
  3. ^ Bank of Papua New Guinea. "50 toea coin". Retrieved 2007-05-29. 
  4. ^ Linzmayer, Owen (2012). "Papua New Guinea". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 
  5. ^ http://banknoteworld.com/banknotes/papua_new_guinea/PapuaNewGuineaPNew-50Kina-(1999)_b.jpg Picture from Ronald Wise 50 kina banknote accessed 2008/04/29
  6. ^ Papua New Guinea BanknoteNews.com. Retrieved 2008-04-29.
  7. ^ Papua New Guinea issues new 2- and 50-kina notes BanknoteNews.com. Retrieved 2012-03-25.
  8. ^ http://www.bankpng.gov.pg/index.php?option=com_content&task=view&id=357&Itemid=119 New 20 kina accessed 2008/04/29
  9. ^ http://www.bankpng.gov.pg/index.php?option=com_content&task=view&id=365&Itemid=115 New 5 kina accessed 2008/04/29
  10. ^ http://www.bankpng.gov.pg/index.php?option=com_content&task=view&id=366&Itemid=115 New 10 kina accessed 2008/04/29

References[edit]

External links[edit]

Preceded by:
Australian dollar
Reason: independence
Ratio: at par
Currency of Papua New Guinea
19 April 1975 –
Concurrent with: Australian dollar until 1 January 1976
Succeeded by:
Current