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Do not show me this message againEssential reading for Papua New Guinea-focused executives
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The 2022 Business Advantage Papua New Guinea Investment Conference is taking place in Brisbane on 15 and 16 August, bringing … [Read More...]
Better infrastructure and a higher volume of onshore processing are the key tenets of Papua New Guinea’s new Fisheries Strategic … [Read More...]
Green hydrogen has been touted as the next big move to lower carbon emissions and Papua New Guinea is well positioned to develop … [Read More...]
COVID-19 test are no longer necessary for inbound passengers into Papua New Guinea, local company gets K62 million contract to … [Read More...]
The Papua New Guinea kina’s exchange rate (mid-rate) against its main trading currencies, as at 08 August, 2022
USD 0.2840
AUD 0.4079
GBP 0.2338
EUR 0.2794
NZD 0.4513
JPY 38.07
SGD 0.3921Source: Bank of PNG
From the Business Advantage blog 
This shock revaluation is bad for agriculture as the Kina incomes of all producers of export crops have been instantly slashed by 20%.
Whilst imported purchases will gradually come down in price farmers will have less Kinas
to pay for these imports Therefore the effect on businesses dependent on agriculture will
not benefit.
Now there are concerns over the difficulty in paying overseas suppliers as the banks seem
to short of USD/AUD etc to pay overseas import bills.
One does wonder what result the Bank of PNG hoped to achieve.