Central Banking

Papua New Guinea issues new notes for anniversary

The Bank of Papua New Guinea has introduced two new polymer banknotes to commemorate 33 years of the Kina and Toea currencies.

The central bank issued the two new notes, worth Kina5 ($1.86) and Kina10 ($3.72), on 18 April.

The new Kina5 note is the final denomination to be converted from a paper substrate to polymer.

"Papua New Guinea is predominantly a cash-based economy and will remain so for some time," said Wilson Kamit, the governor of the central bank. "We at the Bank of Papua New Guine