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The exhibition supplied an opportunity to discover the fascinating history of PNG forex and its unique place within the nation’s improvement. Displaying cultural richness and diversity, attendees were reminded of the significance of foreign money as a reflection of PNG identity, 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 face earlier than you today as we open the Kina and Toea Exhibition, a showcase of our nation’s rich and evolving financial history as part of the Bank’s 50th anniversary celebrations,” Governor Genia stated. She highlighted that the occasion is particularly vital as it precedes the 50th anniversary of each the country’s foreign money and the nation itself.

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Governor Genia also introduced the Bank’s Vision 2050, launched consistent with the anniversary celebrations. Shells, particularly the Kina and Toea, were not solely mediums of trade but in addition 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 important ceremonies and events,” Genia explained. The arrival of colonisers marked a turning level in the country’s financial historical past, resulting in the introduction of contemporary currencies on 19 April 1975. “These modern currencies served as each financial devices and national emblems of our independence and unity as a nation,” Genia noted.