Business And Financial News : Npr

The Bank of Papua New Guinea officially launched the Kina and Toea Exhibition, a show celebrating the nation’s rich financial historical past and the 50th anniversary of Papua New Guinea’s foreign money. This event, held as a half of the Bank’s 50th anniversary celebrations, coincides with the upcoming fiftieth anniversary of PNG’s independence in 2025. The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 at the National Museum & Art Gallery in Port Moresby. The exhibition supplied Business News a chance to discover the fascinating historical past of PNG foreign money and its distinctive place in the nation’s growth. Displaying cultural richness and diversity, attendees have been reminded of the significance of currency as a reflection of PNG id, values, and traditions.

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She provided insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is found in each the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal regions. Similarly, “Toea” refers to a useful type of shell utilized in trade and conventional bride price ceremonies within the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing dedication to maintaining trust and confidence in bodily foreign money, at the equal time as international trends shift in direction of digital currencies and electronic payments.

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