Papua New Guinean kina
Encyclopedia
The kina 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 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.
In 1980, 50 toea coins were introduced but only issued in commemorative form without a standard design.
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, then the 100 kina in 2005, 2 and 20 kina in 2007 and the 5 and 10 kina in 2008. This makes all the denominations of the kina issued in polymer.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Papua New Guinea
Papua New Guinea
Papua New Guinea , officially the Independent State of Papua New Guinea, is a country in Oceania, occupying the eastern half of the island of New Guinea and numerous offshore islands...
. It is divided in 100 toea. The kina was introduced on 19 April 1975, replacing the Australian dollar
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
at par. The name kina is derived from Kuanua of the Tolai
Tolai
The Tolai are the indigenous people of the Gazelle Peninsula and the Duke of York Islands of East New Britain in the New Guinea Islands region of Papua New Guinea...
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
New Guinea pound
The pound was the currency of the Australian territory of New Guinea between 1915 and 1966. It replaced the mark when Australia occupied the former German colony. It was equal to the Australian pound and Australian currency circulated, alongside coins issued specifically for New Guinea between 1935...
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, and the larger coin was demonitised from the 31 December 2008. 2008 also saw the introduction of a bimetallic 2 kina coin intended to replace the 2 kina note. 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.In 1980, 50 toea coins were introduced but only issued in commemorative form without a standard design.
| Denomination | Circulates since |
Composition | Shape | Diameter | Edge | Observe | Reverse | |
|---|---|---|---|---|---|---|---|---|
| Ring | Center | |||||||
| 5 Toea | |
Copper-nickel | |
|
|
|
|
|
| 10 Toea | |
Copper-nickel-zinc | |
|
|
|
|
|
| 20 Toea | |
Copper-nickel | |
|
|
|
|
|
| 50 Toea | |
Copper-nickel | |
|
|
|
|
|
| 1 Kina | |
Aluminium bronze Aluminium bronze Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper, in contrast to standard bronze or brass... |
|
|
|
|
|
|
Banknotes
On 19 April 1975, notes were introduced for 2, 5 and 10 kina that replaced the Australian dollarAustralian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
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
Polymer
A polymer is a large molecule composed of repeating structural units. These subunits are typically connected by covalent chemical bonds...
rather than on paper.
A new issue of banknotes has been issued starting with the 50 kina in 1999, then the 100 kina in 2005, 2 and 20 kina in 2007 and the 5 and 10 kina in 2008. This makes all the denominations of the kina issued in polymer.
External links
- Explanation of Notes & Coins (Official Bank of PNG)