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.
01/07/2013: Exchange rate unification
North Korea unifies the official exchange rate and market rate, resulting in a significant depreciation of the won.
30/11/2009: Currency revaluation
North Korean government announces a currency revaluation, replacing the old won notes at a ratio of 1 for 100.
01/12/2001: Currency redenomination
North Korean won is redenominated, with the previous notes and coins being replaced by new ones at a ratio of 1 for 1,000.
08/05/1995: Introduction of Polymer Banknotes
Polymer banknotes were introduced in Papua New Guinea, replacing the traditional paper banknotes and providing increased durability.
25/02/1992: Introducing foreign exchange certificates
North Korea introduces foreign exchange certificates to counter hyperinflation and stabilize its economy.
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.
06/12/1979: Second major revaluation
North Korean won undergoes its second major revaluation, with the exchange rate being set at 1 for 10.
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.
31/12/1959: First major revaluation
North Korean won undergoes its first major revaluation, with the exchange rate being set at 1 for 100.
06/12/1947: Introduction of North Korean won
North Korean won is introduced as the official currency of North Korea, replacing the Korean yen at par value.