PGK to MKD

MKD - Macedonian Denar (ден)

Macedonian Denar

The Macedonian Denar is the official currency of the former Yugoslav Republic of Macedonia. The exchange rate of the Denar is based on the demand and supply of foreign trade. Money supply and interest rates are dictated by the exchange rate, which is 61 Denars = 1 Euro. With this exchange rate target, Macedonia’s Central Bank has maintained a steady exchange rate for the Denar against the Euro.

The Macedonia Denar is the currency in Macedonia (The Former Yugoslav Republic, MK, MKD). The symbol for MKD can be written MKD. The Macedonia Denar is divided into 100 deni. The exchange rate for the Macedonia Denar was last updated on May 24, 2019 from Yahoo Finance. The MKD conversion factor has 4 significant digits.

Economy

• Macedonia’s economy is currently based on exports of its gas, oil, and machinery.
• Macedonia was considered the least developed of the Yugoslavia Republic states when they became independent in September 1991. Its goods and services had contributed only 5% of the national output.
• The separation from Yugoslavia depressed Macedonia’s protected markets and its transfer of payments from the Yugoslavia government.
• Macedonia’s economic growth was further delayed until the year 1996, due to UN sanctions on the Federal Republic of Yugoslavia and Greek economic restrictions.
• Worker payments and foreign assistance lessened instability during the recovery period. Macedonia’s GDP growth reached 5% in 2000.

History

• On April 26, 1992 the Macedonian Denar was introduced to replace the Yugoslav Dinar at par.
• On May 5, 1993 a new Macedonian Denar was issued; 1 new Denar = 100 old Denar.

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PGK - Papua New Guinean Kina (PGK)

Papua New Guinean Kina

The Kina is the official currency of Papua New Guinea. It is divided in a hundred toea. The Kina was issued on 19 April 1975, replacing the Australian Dollar. The term Kina comes from the Tolai area of Kuanua and refers to a precious pearl shell widely used in the area for buying and selling.

The Papua New Guinea Kina is the currency in Papua New Guinea (PG, PNG). The symbol for PGK can be written K. The Papua New Guinea Kina is divided into 100 toeas. The exchange rate for the Papua New Guinea Kina was last updated on May 24, 2019 from Yahoo Finance. The PGK conversion factor has 5 significant digits.

Economy

• Over 75% of the nation's inhabitants are completely reliant on a subsistence economy.
• Vast amounts of mineral resources (oil, copper, and gold) can be found in Papua New Guinea, making up nearly 3/4 of exports. Coffee, cocoa, tea, and palm oil are also major exports.
• Papua New Guinea faces numerous challenges that prevent high economic growth, including its rugged terrain, high infrastucture development costs, law and order issues, and a poor system of land title.
• Papua New Guinea’s economy is highly dependent imports for manufactured materials.

History

• In 1975, a 1 Kina coin was introduced - spherical with a hole in the centre. This designation was gotten smaller since 2006 while its larger predecessor was removed from circulation in December, 2008.
• Large denomination bills were introduced starting in 1977 with the 20 kina note. In 1990, a 50 kina banknote was inroduced, and in 2005 they launched the 100 kina note.
• In 1980, 50 toea coins were introduced, though they were intended for commemorative means and were not consistent in design.
• In 2008, a new, bimetallic, 2 kina coin was introduced to replace the two kina note.

More information about PGK - Papua New Guinean Kina (PGK)