Papua New Guinean Kina in Panamanian Balboa

PGK Papua New Guinean Kina

Country of application:
Papua New Guinea

Coin denominations in circulation:
5, 10, 20, 50 toe, 1 kina.

Denominations of banknotes in circulation:
2, 5, 10, 20, 50, 100 kina.

History reference:
The kina is the national currency of Papua New Guinea. In 1949, the Australian authorities united the two parts of the country, Australian pounds were introduced in the country, and in 1966, Australi...an dollars. After gaining independence in 1975 in New Guinea, the Australian currency became legal tender and the national currency, the kina, was introduced. The kina came into effect in April 1975 when it replaced the previous currency, the Australian dollar (AUD) as the countrys official currency. 1 kina is made up of 100 subunits called "toes". facilitating local trade.

PAB Panamanian Balboa

Country of application:
Panama

Coin denominations in circulation:
1 and 5 centesimos, 0.1, 0.25, 0.5, and 1 balboa.

Denominations of banknotes in circulation:
-

History reference:
The Balboa is the currency of the Republic of Panama. Panama money got its name from the Spanish conquistador Vasco Nunez de Balboa, the first European to cross the Isthmus of Panama from the Atlanti...c to the Pacific coast. With the independence of Panama in 1904, it became necessary to introduce a new currency to replace the Colombian peso. The balboa became such a currency. Until 1934, it was relatively independent and had a certain gold content (1.5048 g of pure gold), later a firm 1:1 ratio with the US dollar was established, which has been maintained to this day.