Papua New Guinean kina
 | This article needs to be updated. (September 2013) |
 Commemorative K50 Note | |
| ISO 4217 | |
|---|---|
| Code | PGK (numeric: 598) |
| Subunit | 0.01 |
| Unit | |
| Plural | kina |
| Symbol | K |
| Denominations | |
| Subunit | |
| 1/100 | toea |
| Plural | |
| toea | toea |
| Banknotes | 2, 5, 10, 20, 50, 100 kina |
| Coins | 5, 10, 200, 50 toea, 1, 2 kina |
| Demographics | |
| User(s) |  Papua New Guinea |
| Issuance | |
| Central bank | Bank of Papua New Guinea |
| Website | www |
| Valuation | |
| Inflation | 1.8% |
| Source | The World Factbook, 2007 est. |
The kina (ISO 4217 currency code: PGK, the currency symbol: K) is the currency of Papua New Guinea. It is divided into 100 toea. The kina was introduced on 19 April 1975, and circulated along with the Australian dollar until 1 January 1976, when the dollar ceased to be legal tender.
The name kina is derived from Kuanua language of the Tolai region, referring to a callable pearl shell used widely for trading in both the Coastal and Highlands areas of the country.
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 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. The obverse of a 1 toea coin displays a birdwing butterfly, while a 2 toea coin has a lionfish on its obverse. [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 | Obverse | Reverse | |
|---|---|---|---|---|---|---|---|---|
| Ring | Center | |||||||
| 5 Toea | Copper-nickel | |||||||
| 10 Toea | Copper-nickel-zinc | |||||||
| 20 Toea | Copper-nickel | |||||||
| 50 Toea | Copper-nickel | |||||||
| 1 Kina | Copper-nickel | |||||||
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 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. Paper bank note ceased being accepted by the Bank of PNG from the 31 December 2014, and are no longer legal tender[11]
| 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 CNY EUR GBP HKD JPY USD SGD |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD SGD |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD SGD |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD SGD |
See also
References
- ^ Bank of Papua New Guinea. "Withdrawal of Large Sized K1 Coin from Circulation" (PDF). Retrieved 2010-01-16.
- ^ Bank of Papua New Guinea. "Notes and coins of Papua New Guinea - Currency". Retrieved 2007-05-29.
- ^ Bank of Papua New Guinea. "50 toea coin". Retrieved 2007-05-29.
- ^ Linzmayer, Owen (2012). "Papua New Guinea". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
- ^ "Banknote World - World Currency & Paper Money Collectors".
- ^ Papua New Guinea BanknoteNews.com. Retrieved 2008-04-29.
- ^ "Papua New Guinea issues new 2- and 50-kina notes".
- ^ "Bank of Papua New Guinea (PNG) Port Moresby, Papua New Guinea".
- ^ "Bank of Papua New Guinea (PNG) Port Moresby, Papua New Guinea".
- ^ "Bank of Papua New Guinea (PNG) Port Moresby, Papua New Guinea".
- ^ "Withdrawal of Paper Banknotes".
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Sources
- Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
External links
- Currency (Official Bank of PNG)
- Bank of Papua New Guinea PDF
- Papua New Guinea Paper Money
| 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 |