Bakani warns against paper banknotes

Papua New Guinea currency in paper notes is not a legal tender, says Bank of Papua New Guinea.

“The public is reminded again that banknotes (K2, K5, K10, K20, K50 and K100) made from paper ceased to be legal tender on 30th June 2012. Any paper banknotes do not have value anymore, and should not be accepted and used,” BPNG Governor Loi Bakani said.

“The Bank is aware that there are paper notes in the hands of some people attempting to exchange them for polymer banknotes.

“There are attempts also to sell these paper banknotes in exchange for other foreign currencies (e.g. American dollars and online services such as e-bay). The public is strongly advised not to accept them as they are no longer legal tender, and are of no use in Papua New Guinea.

“The public is advised to look out for various security features as detailed on the K50 and K100 posters before accepting them,” Bakani advised.

(A picture of paper K100 notes being circulated on social media)


Charles Yapumi