24 Apr 2007

Bank PNG clears air over coins, old bank notes mayhem

7:11 am on 24 April 2007

There's been confusion among the public in Papua New Guinea, with some business houses, street vendors and public motor vehicle operators refusing old coins following the withdrawal of one and two toeas as legal tender last week.

However, officers from the Bank of PNG say the coins are still legal tender but these must be returned to the bank.

The bank's currency manager, David Lakatani, told the National newspaper that there was no deadline for the return of the coins and worn bank notes.

He says despite recent awareness campaigns many in rural areas were still unaware while others were confused about the use of old currency.