3 Jun 2010

PNG's kina expected to experience some stability against US dollar

10:55 am on 3 June 2010

Papua New Guinea's currency, the kina, is expected to experience some stability against the greenback or at least a slight recovery.

According to ANZ bank, the Kina and US dollar rate is set to improve after an increase in the volume of the US dollar in the exchange market in last week's trading.

The Post Courier reports the bank said the volatility in overseas currencies saw the kina also appreciate against the Aussie dollar by 3.5 per cent and the New Zealand dollar by 2.03 per cent.