## Currency Notes

## Source details

**Canonical URL:** [Currency Notes](https://www.imf.org/-/media/files/publications/fandd/article/2025/12/currency-notes.pdf)

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### Introduction
- Papua New Guinea introduced a new national currency, the kina, when gaining independence from Australia in 1975.
- Each kina was divided into 100 toea.
- The kina name derives from a pearl oyster shell used as traditional money; toea are named for a smaller shell.

### Design and symbolism
- New and commemorative banknote and coin designs emphasize cultural and natural heritage:
  - 50 kina commemorative banknotes mark the nation's first half century of independence and feature:
    - founding prime minister Michael Somare,
    - the national emblem, the Raggiana bird-of-paradise.
  - The banknote also depicts biodiversity elements:
    - a Queen Alexandra’s birdwing—the world’s largest butterfly, with wings spanning 25–28 centimeters,
    - a blue orchid, a national symbol.
  - A new 50 toea coin shows the country’s flag.
- The kina and the toea are described as "symbols of independence" in official remarks.

### Commemorative issues and upcoming notes
- The nation of 10 million marked its first half century of independence in September with commemorative 50 kina banknotes.
- Next year, Papua New Guinea will introduce a new 100 kina note to honor Julius Chan.

### Historical and biographical notes
- Papua New Guinea is home to more than 800 languages—the most of any country.
- Julius Chan:
  - shaped early economic policies as the first finance minister and second prime minister,
  - was born on Tanga Island, New Ireland Province, to a Chinese father and Indigenous mother,
  - represented his home province in Parliament until he died in January at age 85,
  - was knighted by Queen Elizabeth II in 1980.
- The kina and toea have historical roots as shells used for trading, stores of wealth, and adornment into the 20th century.

### Official commentary
- Bank of Papua New Guinea Governor Elizabeth Genia, in an August speech announcing the new designs, said:
  - "The kina and the toea remain symbols of independence."
  - "The unfinished business of independence is to ensure every kina and every toea earned brings real benefits for our people. Our sovereignty is measured not only by symbols, but by the progress we make as a nation."

### Key statistics and exact figures
- 1975 (year of independence and currency introduction)
- 100 (toea per kina)
- more than 800 (languages spoken)
- 10 million (nation population)
- 50 (kina commemorative banknote denomination)
- 50 (toea new coin denomination)
- 25–28 centimeters (wingspan of Queen Alexandra’s birdwing)
- age 85 (age at death of Julius Chan)
- 1980 (year Julius Chan was knighted)

*Source: https://www.imf.org/-/media/files/publications/fandd/article/2025/12/currency-notes.pdf*

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_Source: https://www.imf.org/-/media/files/publications/fandd/article/2025/12/currency-notes.pdf_