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Similarly, “Toea” refers to a priceless kind of shell utilized in commerce and conventional bride value ceremonies within the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing commitment to sustaining trust and confidence in physical currency, at the identical time as international tendencies shift in direction Business News of digital currencies and digital funds. “This exhibition provides a novel opportunity to reflect and appreciate how far we have come and to consider how we are able to continue to honour our heritage while embracing the lengthy run,” she mentioned.
Governor Genia additionally introduced the Bank’s Vision 2050, launched consistent with the anniversary celebrations. Shells, notably the Kina and Toea, were not solely mediums of trade but also symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell cash additionally represented social standing, and it was utilized in marriages, deaths, and other significant ceremonies and events,” Genia defined. The arrival of colonisers marked a turning level within the nation’s economic history, leading to the introduction of latest currencies on 19 April 1975. “These up to date currencies served as both economic instruments and nationwide emblems of our independence and unity as a nation,” Genia famous. She supplied 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 regions.
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For additional information about the Tourism Business Incubation Center and upcoming packages, please contact the PNG Tourism Promotion Authority. The Bank of Papua New Guinea formally launched the Kina and Toea Exhibition, a display celebrating the nation’s wealthy economic history and the 50th anniversary of Papua New Guinea’s currency. This event, held as part of the Bank’s fiftieth anniversary celebrations, coincides with the upcoming 50th anniversary of PNG’s independence in 2025.