BPNG expands currency distribution

Commissioning of the Lae CDF site by Bishop Danny Guka.

“Bringing Banking Services to the People” was the theme of the Ground Breaking Ceremony for the Cash Distribution Facility (CDF) that will be built in Lae, Morobe Province.

Bank of Papua New Guinea Governor Loi Bakani CMG, said the Bank has decided to have a branch outside of Port Moresby to bring currency services and other services provided by the Central Bank to clients in Lae and other provinces in the Momase, New Guinea Islands and Highlands regions.

Governor Bakani said the Facility will also provide other services like financial awareness, research, financial inclusion programs.

The ground-breaking ceremony marks three years of planning and designing by the Bank of PNG and Beacon Consulting, and relevant stakeholders including the Physical Planning board, the building board, Works Department, Eda Ranu and PNG Power in Lae.

Morobe Governor Kelly Naru expressed his gratitude by thanking the Bank for choosing Lae and the Morobe province to establish the CDF and also for having the confidence in the province.

The Cash Distribution Facility is expected to be completed in 2018 and Project Manager from Beacon Consulting Mr Greg McDonald says piling work on the building will start within two weeks.

Kina exchange rate (MIDRATE)

Last Updated:

USD 0.2850
AUD 0.3962
EUR 0.2501
GBP 0.2090
JPY 32.73
NZD 0.4206
SGD 0.3843

Kina Facility Rate:

    • Nov 2021  3.00%
    • Oct 2021  3.00%
    • Sep 2021  3.00%
    • Aug 2021  3.00%
    • Jul 2021  3.00%
    • Jun 2021  3.00%
    • May 2021  3.00%
    • Apr 2021  3.00%
    • Mar 2021  3.00%
    • Feb 2021  3.00%
    • Jan 2021  3.00%