PAPUA NEW GUINEA ISSUES NEW FIVE-KINA BANK NOTE

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By Bibian Barreng

PORT MORESBY, Papua New Guinea (The National, June 20) – The Bank of Papua New Guinea (BPNG) has issued a new PGK5 [US$1.72] banknote that begins circulation today.

The new issue, which commemorates Team PNG to the 2007 South Pacific Games in Samoa, was launched yesterday by BPNG Governor Wilson Kamit and Secretary for Treasury Simon Tasali.

[PIR editor’s note: The South Pacific Games are to be held in Apia, Samoa from August 25 to September 8.]

The banknote retains the dimensions and all the design elements of the existing K5 note. However, it incorporates an overprint of Team PNG logo, which is that of the Bird of Paradise in red, black and gold in colour.

Mr Kamit explained during a media briefing that the serial numbering, prefixed by letters SHH and nine digits numbers beginning with "07" appear at the lower end corners on the front of the note.

He highlighted the K2 banknote was rare item as it was first of be printed in polymer as well as having a low serial number.

He added the lower the serial number, the higher the value, as in serial number beginning with "07" on the K2 banknote and the serial number "99" on the new K5 banknote.

BPNG also donated one of the new commemorative K5 banknote full sheet frame to the PNG Sports Federation, both of which will be auctioned to raise funds for Team PNG.

The note is printed on paper and bears the following security features:

Front:

lA watermark depicting the BPNG logo appears below the denomination figure "5" on the right hand side of the note;

lA stardust security thread coloured shinning silver is woven in and out of the note featured on the left; and

lRaised intaglio printing of the denomination figure "5", surrounding pattern design, BPNG, the national crest, 5 kina, and legal tender through Papua New Guinea.

Back:

lSee through watermark appears below the denomination figure "5" on the left side of the note; and

lRaised intaglio printing of traditional currencies, the figure "5", surrounding pattern designs and BPNG.

The governor also used the occasion to donate one full sheet frame of the K2 banknote bearing the overprint of the 9th South Pacific Games logo to the PNG Sport Federation secretary-general Sir John Dawanancurax.

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