Monetary Occasions

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The Bank of Papua New Guinea officially launched the Kina and Toea Exhibition, a display celebrating the nation’s wealthy economic historical past and the fiftieth anniversary of Papua New Guinea’s foreign money. This occasion, held as part of the Bank’s fiftieth anniversary celebrations, coincides with the upcoming fiftieth anniversary of PNG’s independence in 2025. The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 at the National Museum & Art Gallery in Port Moresby. The exhibition provided Business News an opportunity to explore the fascinating history of PNG forex and its unique place in the nation’s growth. Displaying cultural richness and diversity, attendees were reminded of the importance of foreign money as a reflection of PNG id, values, and traditions.

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“Deeply embedded in our traditions and cultural practices, shell money additionally represented social standing, and it was used in marriages, deaths, and other significant ceremonies and events,” Genia explained. The arrival of colonisers marked a turning level in the nation’s financial historical past, resulting in the introduction of up to date currencies on 19 April 1975. “These modern currencies served as both economic devices and nationwide emblems of our independence and unity as a nation,” Genia famous. She supplied insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is found in each the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas. Similarly, “Toea” refers to a priceless type of shell used in trade and conventional bride value ceremonies in the Motuan Coastal villages.

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