Historic Mongolian Tugrik Papua New Guinean Kina

24/03/2020: COVID-19 Economic Impact

The COVID-19 pandemic had a significant impact on the Papua New Guinean economy and the value of the Kina, leading to economic challenges and policy interventions.

19/11/2018: Launch of New Kina Notes and Coins

The Bank of Papua New Guinea launched a new series of Kina banknotes and coins, featuring enhanced security features and improved design.

01/01/2017: Floating Exchange Rate Regime

Mongolia adopts a fully floating exchange rate regime for the Tugrik, allowing the currency's value to be determined by market forces without intervention from the central bank.

26/06/2009: Currency Redenomination

Mongolia redenominates its currency, replacing the old Tugrik banknotes with new ones at a ratio of 1 to 1000, in an effort to simplify transactions and reduce inflation.

08/05/1995: Introduction of Polymer Banknotes

Polymer banknotes were introduced in Papua New Guinea, replacing the traditional paper banknotes and providing increased durability.

06/03/1993: Mongolia Joins IMF

Mongolia becomes a member of the International Monetary Fund (IMF), influencing monetary policies and further shaping the development of the Tugrik currency.

01/07/1992: Tugrik Exchange Rate Liberalization

Mongolia liberalizes the exchange rate of the Tugrik, allowing it to fluctuate based on market forces and paving the way for a more flexible currency system.

21/12/1991: Transition to Market Economy

Mongolia undergoes a transition from a centrally planned economy to a market economy, leading to major changes in the Tugrik currency system.

28/07/1989: Kina Floats in Foreign Exchange Market

The Papua New Guinean Kina was allowed to float freely in the foreign exchange market, leading to fluctuations in its value.

03/02/1976: First Kina Banknotes Issued

The Bank of Papua New Guinea issued the first series of Kina banknotes, featuring unique designs and local elements.

19/12/1975: Independence from Australia

Papua New Guinea gained independence, leading to the introduction of the Papua New Guinean Kina as its currency.

19/12/1975: Introduction of the Kina

The Papua New Guinean Kina was officially introduced as the national currency, replacing the Australian Dollar at a rate of 2 Kina to 1 Australian Dollar.

04/07/1946: Mongolian People's Bank Established

The Mongolian People's Bank is established as the central bank of Mongolia, responsible for issuing and managing the Tugrik currency.

01/12/1925: Introduction of the Tugrik Currency

Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.