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Port Moresby
May 29, 2020
News

Kina Toea 38th Anniversary

April 19th marksthe 38th anniversary ofthe Papua New Guineacurrency, Kina and Toea.

A number of changes have had to be made overthe years;the notable has beenthe replacement of paper to plastic bank notes andthe demonetizing ofthe 1 and 2 toea copper coins.

PNG introduced its own currency,the kina and toea 38 years ago whenthe 1 toea, 2to5to10 toand K1 coins were introduced.

The first K2, K5 and K10 bank notes were introduced in 1980.

These banknotes were joined bythe K20 in 1978 and K50 in 1989.

Allthese notes were in paper form until recently were converted to plastic notes andthe 1t and 2t copper coins demonetized.

Duringthe commemoration ofthe 38th anniversary yesterday, Mr Bekani saidthe change from paper to plastic was to with’standthe tropical climate.

Deputy Governor ofthe bank, Benny Popotoi stressedthe importance of having our own currency compared to ther nations.

He urgedthe staff ofthe central bank to be responsible and collect old notes and returnthem tothe bank in return for new ones.

The new series of bank notes havethe parliament house onthe front with advanced security features incorporated to protect against counterfeiting.

The is making a final call for the return of all paper notes as it ceases to exist as legal tender.

Ruth Rungula, National EMTV News

https://youtube.com/watch?v=lw3z3M-8jjQ%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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