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US Dollar to Papua New Guinean Kina
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The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent (¢) units. The circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars (12 U.S.C. § 418).
The U.S. dollar is commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain (24.1 g) pure or 416 grain (27.0 g) standard silver. Since the currency is the most used in international transactions, it is the world's primary reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins (such as the Susan B. Anthony dollar).
The kina (ISO 4217 code: PGK) is the currency of Papua New Guinea. It is divided into 100 toea. The kina was introduced on 19 April 1975, replacing the Australian dollar at par. The name kina is derived from Kuanua language of the Tolai region, referring to a callable pearl shell used widely for trading in both the Coastal and Highlands areas of the country. For earlier currencies used in Papua New Guinea, see New Guinea pound and New Guinea mark.
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