Kina

Kina refers to the currency of Papua New Guinea, abbreviated as PGK. It was introduced in 1975, replacing the Australian dollar at par when Papua New Guinea gained independence. The term “kina” is derived from the local word for the shell money traditionally used in Papua New Guinea, which was a significant medium of exchange in the region before the introduction of formal currency. The Kina is subdivided into 100 toea. As the legal tender, it is used for all transactions and is managed by the Bank of Papua New Guinea. The currency comes in various denominations of banknotes and coins, specializing in designs that reflect the country’s culture and heritage. In addition to its role as currency, “kina” can also mean “to act” in certain local languages, but in an economic context, it primarily refers to the national currency.