Convert NZD to PGK Exchange Rate

The lowdown on the Papua New Guinean kina

Economical Influences on the Papua New Guinean Kina Exchange Rate

Despite Papua New Guinea’s abundance of natural resources, the country’s rugged terrain, land issues and the high cost of infrastructure permit its resources from being utilised to their full potential.¹

Despite the difficulties of cultivating, Papua New Guinea’s economy is primarily supported by its export in natural resources such as liquid natural gas (LNG).¹

Agriculture is the main employment industry, accounting for 85% of jobs in Papua New Guinea.¹

The Papua New Guinea kina has suffered minimal fluctuations over the last 3-year period.²

Papua New Guinean Kina Historical Exchange Rate

The PGK has seen some fluctuations over the previous years, performing best between 2015 and 2016.²

As of 14 May 2014 the NZD was buying around 2.43 PGK, however this had fluctuated by 20 September of the same year with the NZD then buying 1.91770 PGK.²

By 6 September 2015 the worth of the PGK continued to strengthen against the New Zealand dollar, with the NZD being equal to 1.76323 at this time.²

A year later on 13 September 2016 the NZD was buying around 2.38 PGK, but by 11 May 2017 the NZD was now worth around 2.18 Papua New Guinean kina.²

2018 was a relatively stable year for the PGK – on 17 April 1 New Zealand dollar was buying 2.39535 PGK and on 6 October the NZD was worth around 2.10 PGK.²

As of 18 January 2019 the NZD was worth around 2.20692 PGK.²

<sup>Sources
1. Central Intelligence Agency – https://www.cia.gov/library/publications/the-world-factbook/geos/pp.html
2. XE - https://www.xe.com/currencycharts/?from=NZD&to=PGK&view=5Y</sup>

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