Commemorative bank notes celebrate 40th Anniversary
Bank of Papua New Guinea has introduced commemorative bank notes to mark its 40 th year of existence in Papua New Guinea.
The notes, which come in denominations of K2 and K100, will be launched on November 1 st and circulated thereafter.
Introducing the country own currency was one of the first significant steps towards creating a national identity in the lead up to InÂdependence, alongside creating the national flag, national anthem and the national crest. The National Parliament building appears on the front of all the banknotes, perpetuating a theme that symbolises nationhood and nation building.
Papua New Guinea first introÂduced its own currency, the Kina and Toea on April 19, 1975.
Kina and Toea depicts elements of our culture and heritage. The Kina is named after a valuable shell used as traditional money in the Highlands and Mamose regions, while the Toea (ProÂnounced toya in Motu) is named after the armshell widely used along the Papuan coast.
The Kina and Toea have come a long way since their introduction with additional denominations, changes in size and metal content for coins and from paper to polymer (plastic) for banknotes.
The changes in the currency size and material were introduced to accommodate the growing economy, new technological advancement in currency production and security requirements against counterfeit.
The Bank of Papua New Guinea issues commemorative banknotes and coins as collectable (numismatic) items that offer an interesting perspective on Papua New Guinea culture, history and values. These items commemorate special and significant events and milestones in the history of the country and include events such as the South Pacific Games, the country independence anniversaries, the Bank of PNG anniversaries and the recent Royal Visit by the Prince of Wales and Duchess of Cornwall.