The Kina (currency symbol: K) is the currency of Papua New Guinea. It is divided into 100 toea. The name kina is derived from Kuanua language of the Tolai region, referring to a pearl shell used widely for trading in both the Coastal and Highlands areas of the country.
The kina was introduced on 19 May 1975 and circulated along with the Australian dollar until 31 December 1975. The two currencies were equal in value (K1 = A$1). The next day, the dollar ceased to be legal tender in Papua New Guinea.
In 1975, coins were introduced for 1, 2, 5, 10 and 20 toea and 1 kina. The 1 and 2 toea were minted in bronze, with the others in cupronickel. The 1 kina is round and holed in the centre, this denomination was reduced in size starting from 2006, and the larger coin was demonetised from 31 December 2008. 2008 also saw the introduction of a bimetallic 2 kina coin intended to replace the 2 kina note. The withdrawal of the 1 and 2 toea coins also occurred in 2006 and as from 19 April 2007 are also no longer legal tender. | 