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Exchange rates for the Deutsche Mark in Papua New Guinea / PGK 1 = DEM ... (buying) / up to the end of 1998

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  4. DEM Deutsche Mark (historical)
  5. PGK Kina (Papua New Guinea)
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.M.PGK.DEM.CM.AA.A01
Unit DEM
Dimension one
Timespan from 1976-09 to 1998-12
Last update 20.09.2023 02:46:47 PM
   
General Until 18 April 1975, the Australian dollar (AUD) was the sole legal tender. On 19 April 1975, the kina (PGK) was introduced as the country's own currency at a rate of PGK 1 = AUD 1; the Australian dollar remained legal tender alongside the kina until 31 December 1975. Thereafter, the exchange rates for the kina and the Australian dollar were as follows: until 24 July 1976: PGK 1 = AUD 1; from 25 July 1976: PGK 1 = AUD 1.05; from 29 November 1976: PGK 1 = AUD 1.1812. On 17 December 1976, the kina ceased to be pegged to the Australian dollar. Listed against the euro as of January 1999, see BBEX3:M:PGK:EUR:CM:AA:A01.
Source Since January 1983: Westpac Bank (PNG) Limited, Port Moresby. Until the end of 1982: Bank of Papua New Guinea, Port Moresby.
   
Comment on 1994-09 On 12 September 1994, the exchange rates were adjusted more sharply. We recorded the following exchange rates (buying/selling rate): 9 September 1994: PGK 1 = DEM 1.6512 / 1.6185 12 September 1994: PGK 1 = DEM 1.4338 / 1.4054 Calculated devaluation: 13.2%.
Comment on 1990-01 On 9 January 1990, the kina was devalued. We recorded the following exchange rates (middle): 8 January 1990: PGK 1 = DEM 1.9564 9 January 1990: PGK 1 = DEM 1.7409 Calculated devaluation: 11.0%.
Comment on 1987-03 Exchange rate as of 1 April 1987.
Comment on 1983-03 On 8 March 1983, following the depreciation of the Australian dollar, the kina was devalued by 5.5% against the trade-weighted currency basket. We recorded the following exchange rates (buying/selling rate) for the Deutsche Mark: 7 March 1983: PGK 1 = DEM 3.1450 / 3.1372 8 March 1983: PGK 1 = DEM 2.8242 / 2.8186 On the basis of the above-mentioned rates, the kina experienced a devaluation of 10.2%.
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