PGK (Papua New Guinea Kina)

AAA

DEFINITION of 'PGK (Papua New Guinea Kina)'

The currency abbreviation or currency symbol for the Papua New Guinea kina (PGK), the currency of Papua New Guinea. The Papua New Guinea kina is made up of 100 toea and is often represented with the symbol K. The name "kina" comes from the kina shell that was historically used as a currency in the region.

INVESTOPEDIA EXPLAINS 'PGK (Papua New Guinea Kina)'

In 1975, the Papua New Guinea kina replaced the Australian dollar (AUD) at par. Both the AUD and the kina traded as legal tender the following year, until January of 1976 when the AUD was no longer accepted as currency in the country.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Forex - FX

    The market in which currencies are traded. The forex market is ...
  3. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  4. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  5. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  6. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
Related Articles
  1. How To Pay Your Forex Broker
    Forex Education

    How To Pay Your Forex Broker

  2. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  3. The
    Forex Education

    The "Turn To The Carry" Trade

  4. Trade Forex With A Directional Strategy
    Options & Futures

    Trade Forex With A Directional Strategy

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center