Economy
The currency of Papua New Guinea (PNG) is made up of Kina (keena) and toea (toya) with 100 toea equal to One Kina. The Kina was introduced on the 19th of April 1975. The Kina replaced the Australian Dollar and the toea replaced the Australian cent.
The Kina was so named because in Tok Pisin (neo-melanesian) and in the Kuanua language it referred to the valuable pearl shell used widely in the Highlands as traditional money. Toea, is a Motu word, meaning valuable arm-shell and has had a wide traditional use in coastal Papua for trading and brideprice payments.
During the colonial period and before the introduction of the Kina and Toea, the people of PNG used German Marks and Pfennings, Japanese Yen, Australian Pounds, Shillings and Pence and most recently up until the 19th of April 1975 Australian Dollars and cents.
On the 19th of April 1975 only the coins 1t, 2t, 5t, 10t, 20t and K1.00 were minted and the K2, K5 and K10 bank notes The K20 bank note was introduced in 1978, the K50 bank note in 1989 and in November 2005 the Bank of PNG introduced a new K100 note. The 50 toea coin was introduced in 1980 for the 4th South Pacific Festival of Arts held in Port Moresby.
Today the PNG currency consists of the following notes and coins in daily use although the 1 and 2 toea coins have been phased out and are increasingly hard to find as most have been returned to the bank and are not legal tender.
NOTES : K100, K50, K20, K10, K5 and K2.
COINS : K1, 50t, 20t, 10t, 5t, (2t and 1t - phased out in 2007)
Click here to convert PNG currency to Australian dollars