Business And Finance News
The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to six September 2024 on the National Museum & Art Gallery in Port Moresby. The exhibition offered an opportunity to explore the fascinating historical past of PNG foreign money and its unique place in the nation’s improvement. Displaying cultural richness and diversity, attendees had been reminded of the significance of currency as a reflection of PNG identity, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and officially Business News declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to stand earlier than you at present as we open the Kina and Toea Exhibition, a showcase of our nation’s wealthy and evolving economic history as a part of the Bank’s 50th anniversary celebrations,” Governor Genia said. She highlighted that the event is particularly important because it precedes the 50th anniversary of both the country’s forex and the nation itself.
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Governor Genia additionally introduced the Bank’s Vision 2050, launched consistent with the anniversary celebrations. Shells, particularly the Kina and Toea, were not only mediums of commerce but also symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell cash also represented social standing, and it was used in marriages, deaths, and different vital ceremonies and occasions,” Genia defined. The arrival of colonisers marked a turning point within the nation’s economic history, resulting in the introduction of contemporary currencies on 19 April 1975. “These contemporary currencies served as each economic instruments and nationwide emblems of our independence and unity as a nation,” Genia famous. She offered 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 areas.
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