PNG's Kina - Jubi

PNG Currency Dominate Forex Trading in Papua

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PNG's Kina - Jubi
PNG’s Kina – Jubi

Jayapura, Jubi – Bank of Indonesia Papua Representative Office revealed that 98 percent of foreign exchange trading in Papua involved the kina, the currency of Papua New Guinea.

“Foreign exchange trading in Jayapura has been dominated by the kina, which reached 98 percent of transactions,” Deputy Head of Bank of Indonesia in Papua, Eko Waluyo said in Jayapura on Tuesday (9/6).

He said foreign exchange trading in Papua during 2014 reached hundreds of billion rupiahs. “During 2014, total foreign exchange trading reached Rp 151.31 billion in which Rp 73.17 billion was buying transaction and Rp 78.15 was selling transaction,” he said.

Of the Rp 151.31 billion, he added, the forex trading average per month reached Rp 1.05 billion and up to Rp 42.03 million per day.

During a year, Waluyo said, the largest transaction is occurred at the end of the year due to Christmas and New Year. “In December 2014, the forex trading reached Rp 24.05 million, in which Rp 15.61 million was transaction of selling and Rp 11.45 was transaction of buying,” he said. In Jayapura, he further said, there are only three forex traders certified by Bank of Indonesia where all located in the urban area. (*/rom)

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