Papua New Guinean Kina

The currency of Papua New Guinea is the kina. One kina is divided into 100 toea. The kina was introduced in 1975, replacing the Australian dollar. The name "kina" comes from a local word meaning "diamond". The Papua New Guinean economy is heavily dependent on agriculture and mining. The country produces a range of agricultural products, including coffee, cocoa, rice, and sweet potatoes. It is also a major producer of gold and copper. The kina is pegged to the Australian dollar. The Reserve Bank of Papua New Guinea is responsible for issuing the currency.