Business Economy, Finance & Asx Market News The Sydney Morning Herald

The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 on the National Museum & Art Gallery in Port Moresby. The exhibition offered an opportunity to discover the fascinating history of PNG currency and its distinctive place in the nation’s development. Displaying cultural richness and variety, attendees were reminded of the significance of currency as a reflection of PNG identification, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and formally declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to stand before you at present as we open the Kina and Toea Exhibition, a showcase of our nation’s rich and evolving economic history as part of the Bank’s fiftieth anniversary celebrations,” Governor Genia mentioned. She highlighted that the occasion is especially vital because it precedes the fiftieth anniversary of each the nation’s forex and the nation itself.

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Governor Genia additionally launched the Bank’s Vision 2050, launched consistent with the anniversary celebrations. Shells, particularly the Kina and Toea, weren’t solely mediums of trade but additionally symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell cash additionally represented social status, and it was used in marriages, deaths, and other vital ceremonies and occasions,” Genia explained. The arrival of colonisers marked a turning point within the country’s financial historical past, leading to the introduction of latest currencies on 19 April 1975. “These contemporary currencies served as each economic devices and national emblems of our independence and unity as a nation,” Genia famous. She supplied insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is present in each the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas.

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