Converting from Mozambican Metical (MZN) to Papua New Guinea Kina (PGK)

What is Mozambican Metical (MZN)

The Mozambican Metical (MZN) is the official currency of Mozambique, a country located in southeastern Africa. The currency was first introduced in 1980, replacing the old metical at a rate of 1 new metical for 1,000 of the previous currency. The name "metical" is derived from "metical de prata," an old currency used during the colonial era, which means "silver metical."

The metical is subdivided into 100 centavos, although centavos are rarely used in everyday transactions due to inflation. The currency symbol for the metical is MT or MZN, and it is often represented in financial contexts with the currency code MZN. The central bank of Mozambique, the Banco de Moçambique, is responsible for issuing banknotes and coins, which come in various denominations. These denominations can include banknotes of 20, 50, 100, 200, 500, and 1,000 meticais, while coins typically include 1, 2, 5, 10, 20, and 50 centavos, as well as 1 and 2 meticais.

Over the years, the metical has faced challenges such as inflation and economic fluctuations. Despite this, it remains an essential part of Mozambique's economy, facilitating trade and daily transactions for its citizens.

What is Papua New Guinea Kina (PGK)

The Papua New Guinea Kina (PGK) is the official currency of Papua New Guinea, an island nation located in the southwestern Pacific Ocean. Introduced in 1975, the Kina replaced the Australian dollar in a bid to strengthen national identity and economic independence following the country’s independence from Australia. The name "kina" is derived from a traditional shell currency that was used by various tribes in the region.

The Kina is divided into 100 toea, though similar to the metical, toea coins are not commonly used in everyday transactions. The currency symbol for the kina is K, and in financial databases, it is represented with the code PGK. The Bank of Papua New Guinea is the country's central bank and is tasked with regulating the money supply and issuing banknotes and coins.

Kina banknotes are available in several denominations including 2, 5, 10, 20, 50, and 100 kina, while coins are available in denominations of 1, 2, 5, 10, 20, and 50 toea, as well as 1 kina. The kinematic value of the kina has fluctuated over the years due to various factors, including global economic conditions and regional developments.

Currency Conversion between MZN and PGK

To convert Mozambican meticals (MZN) to Papua New Guinea kina (PGK), one must take into account the current exchange rate, which varies daily due to market fluctuations. A typical formula for the conversion is:

Amount in PGK = Amount in MZN × Exchange Rate (MZN to PGK)

If you're planning to travel or conduct business dealing with both currencies, staying updated on current exchange rates is advisable to ensure accurate transactions.