Papua New Guinea - Money



Since 1994 the kina has fallen dramatically relative to the U.S. dollar. The depreciation of the kina means that imports into the country become more expensive, limiting Papua New Guinea's ability to purchase technology and manufactured goods. In general, the country's

Exchange rates: Papua New Guinea
kina (K) per US$1
Oct 2000 2.810
2000 2.696
1999 2.539
1998 2.058
1997 1.434
1996 1.318
SOURCE: CIA World Factbook 2001 [ONLINE].

finances have been characterized by relatively low inflation since independence, except for a period of higher inflation in the 1990s. The inflation rate was 16.5 percent in 1999.

Papua New Guinea's first stock exchange, in Port Moresby, opened in 1999. The first 4 companies listed were Oil Search, Orogen Minerals, Lihir Gold, and Steamships Trading.

Also read article about Papua New Guinea from Wikipedia

User Contributions:

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Steven Campbell
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Dec 27, 2009 @ 9:21 pm
I found that information on this page was informative but it is a little out of date.

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