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Similarly, “Toea” refers to a valuable sort of shell used in commerce and traditional bride price ceremonies in the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing commitment to maintaining belief and confidence in bodily currency, even as world tendencies shift in the course of digital currencies and digital payments. “This exhibition provides a unique opportunity to replicate and appreciate how far we now Business News have come and to consider how we will proceed to honour our heritage whereas embracing the lengthy run,” she said. The exhibition was designed to take attendees on a journey through PNG’s history, showcasing photographs of rare artefacts, cash, and notes that have shaped the country’s economic system. The launch was attended by distinguished friends, companions, stakeholders, the employees and management of BPNG, and the media.

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The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 at the National Museum & Art Gallery in Port Moresby. The exhibition provided a possibility to discover the fascinating history of PNG currency and its unique place in the nation’s growth. Displaying cultural richness and variety, attendees have been reminded of the importance of foreign money as a mirrored image of PNG identification, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and officially 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 right now as we open the Kina and Toea Exhibition, a showcase of our nation’s rich and evolving economic history as part of the Bank’s fiftieth anniversary celebrations,” Governor Genia mentioned. She highlighted that the event is especially vital because it precedes the 50th anniversary of each the country’s currency and the nation itself.

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Governor Genia also launched the Bank’s Vision 2050, launched in line with the anniversary celebrations. Shells, significantly the Kina and Toea, were not solely mediums of trade but additionally symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell money also represented social standing, and it was used in marriages, deaths, and other vital ceremonies and occasions,” Genia defined. The arrival of colonisers marked a turning point within the nation’s economic history, resulting in the introduction of contemporary currencies on 19 April 1975. “These modern currencies served as both financial devices 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 both the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas.