THE commemorative K50 note and 50t coin are now in circulation
This was announced this afternoon by Bank of PNG assistant governor, currency & branch operations group, Ron Sikar.
A total of 20 million pieces of K50 polymer notes with 2.5 million pieces of 50t coins have been distributed to commercial banks and further distributed to main centres throughout the country.
These centres include Lae, Port Moresby, Mt Hagen, and Kokopo. Those within the centres who are lucky will get hold of the finest commemorative currency.
Present during the announcement were Mint (RAM) acting chief executive officer, Emily Martin, and Note Printing Australia (NPA) chief executive officer, Malcolm McDowell. Both organisations are responsible for the production of the currency.
“We are privileged to be here today to present to you all the Bank of PNG’s contribution to the 50th anniversary.
“To be able to produce currency that has integrity, that captures the spirit, that captures the culture, the unique flora and fauna of Papua New Guinea, we had to have partners that believed in us, that would work with us to create currency that is unique for Papua New Guinea,” Mr Sikar said as he commended RAM and NPA.
Mr Dowell reiterated on the long-standing relationship between Australia and Papua New Guinea, having made the first coin for PNG on 19 April 1975.
“Certainly from an NPA perspective, we’ve had a 35-year relationship with the Bank of Papua New Guinea, and of course, we’re delighted to be part of the journey and delighted to have been part of the journey for so long,” he said.
Ms Martin described the coin as a fitting tribute to PNG’s 50th golden anniversary.
“The Royal Australian Mint is very proud of its long association with the Bank of Papua New Guinea. Since 2010, more than 149 million coins have been produced in Canberra for the Bank of Papua New Guinea,” she added.
The notes are now in circulation, which means people will encounter them starting today and onwards.
This commemorative denotes the country’s 50th milestone of sovereignty, which is part of the celebration in September 16. No additional notes can be produced again.
