Papua new guinea currency

The official currency of Papua New Guinea is the Papua New Guinean kina (PGK). It is abbreviated as "K" and is divided into 100 toea.

The kina is issued by the Bank of Papua New Guinea, the central bank of Papua New Guinea. The banknotes are available in denominations of K10, K20, K50, K100, and K200, while coins are available in denominations of 5, 10, 20, and 50 toea, as well as K1 and K2.

The kina is pegged to the Australian dollar, and the exchange rate is fixed at a rate of 1 AUD = 1.75 PGK. This means that the value of the kina is tied to the value of the Australian dollar, and the exchange rate is adjusted periodically to maintain the peg.

It's worth noting that while the kina is the official currency of Papua New Guinea, the US dollar is widely accepted in many parts of the country, particularly in urban areas. However, it's still a good idea to have some local currency, the kina, for small purchases and transactions.