Exchange 2 PGK to CAD - 2 Papua New Guinean Kina to Canadian Dollar
Papua New Guinean Kina
The kina (ISO 4217 currency code: PGK, the currency symbol: K) is the currency of Papua New Guinea. It is divided into 100 toea. The kina was introduced on 19 April 1975, and circulated along with the Australian dollar until 1 January 1976, when the dollar ceased to be legal tender. The name kina is derived from Kuanua language of the Tolai region, referring to a callable pearl shell used widely for trading in both the Coastal and Highlands areas of the country.
The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents (¢). Owing to the image of a loon on the one-dollar coin, the currency is sometimes referred to as the loonie by foreign exchange traders and analysts, as it is by Canadians in general, or huard in French. Accounting for approximately 2% of all global reserves, the Canadian dollar is the fifth most held reserve currency in the world, behind the U.S. dollar, the euro, the yen and the pound sterling. The Canadian dollar is popular with central banks because of Canada's relative economic soundness, the Canadian government's strong sovereign position, and the stability of the country's legal and political systems.
2 Papua New Guinean Kina to Canadian Dollar exchange rates chart
2 PGK to CAD Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.
2 Papua New Guinean Kina to Canadian Dollar Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.
Papua New Guinea is looking to the international bond markets to help bridge revenue shortfalls, announcing the launch of its first eurobond in tandem with wider moves to open up the stock exchange to foreign investors.
Since the establishment of the Nazarene Hospital’s hydroelectric project in Kudjip, Jiwaka Province, the hospital has saved thousands of kina in power bills, improved the safety of its patients and equipment and maintained a regular power supply.