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.
15/02/2013: Launch of New MUR Banknotes
New series of Mauritian Rupee banknotes were launched, featuring enhanced security features and updated designs, reflecting the rich cultural heritage of Mauritius.
08/09/2007: Currency Reform and New Coinage System
A currency reform was implemented, introducing new coins denominated in cents, with the aim of streamlining and modernizing the monetary system.
03/08/1999: Establishment of Bank of Mauritius
Bank of Mauritius Act was enacted, establishing the central bank responsible for the formulation and implementation of monetary policy in the country.
08/05/1995: Introduction of Polymer Banknotes
Polymer banknotes were introduced in Papua New Guinea, replacing the traditional paper banknotes and providing increased durability.
01/07/1994: Conversion to Decimal Currency System
Mauritian Rupee adopted the decimal currency system, replacing the previous pound-based system, with 1 Rupee consisting of 100 cents.
01/07/1992: Introduction of Polymer Banknotes
Polymer-based banknotes were introduced in Mauritius, replacing the traditional paper notes, to improve durability and security against counterfeiting.
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.
01/10/1979: Decentralization of Currency Printing
Printing of Mauritian Rupee banknotes was decentralized from the Bank of England to Mauritius, leading to enhanced national monetary control.
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.
12/06/1967: Introduction of Mauritian Rupee
Mauritian Rupee was introduced as the official currency replacing the Mauritian Pound, with an initial exchange rate of 1 Rupee to 10 Shillings.