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As part of extensive in-country research for the newly-released 2024 edition of the Business Advantage PNG annual magazine, our … [Read More...]
Port Moresby’s flourishing dining scene now features a Thai restaurant – and it’s a good ’un. Lucky Lucky launched in late … [Read More...]
Banks and finance firms are rolling out digital products to take advantage of increased connectivity across Papua New Guinea, … [Read More...]
The major redevelopment of the airport that serves PNG’s second city, Lae, means the country now has a second airport – Nadzab … [Read More...]
The Papua New Guinea kina’s exchange rate (mid-rate) against its main trading currencies, as of 22 April, 2024
USD 0.2634
AUD 0.4094
GBP 0.2127
EUR 0.247
NZD 0.4457
JPY 40.76
SGD 0.3586Source: 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.