Timeline

• 19.01.1887
• Ordinance of the German New Guinea Company on the introduction of the German Reichsmark as unit of account; effective 01.04.1887
• 01.08.1894
• Ordinance of the German New Guinea Company on the issuance of a local coinage in gold, silver and bronze; effective immediately
  - The coins were denominated in "New Guinea Mark" and could only be used in New Guinea. For money transfer to Germany the coins had to be exchanged into bearers' checks which could be cashed at the Company's head office in Berlin.
• 18.10.1900
• Ordinance on the ban of shell currencies (specific types) except for transactions between natives; effective 01.01.1902
  - 26.07.1901: Ordinance to extend the 1900 ordinance to all types of shell currencies; effective 01.04.1902
• 14.09.1906
• Proclamation of the German colonial monetary order of 01.02.1905 for New Guinea including Caroline Islands, Palau and the Marianas effective 01.10.1906:
  - British and US-american gold coins were admitted for payments at a rate: 1 British Pound = 20 German Reichsmark; 1 US Dollar = 4 German Reichsmark.
• 15.09.1908
• Ordinance on the demonetization of the local coinage of the German New Guinea Company; effective 15.04.1911 (redeemable until 15.04.1914)
• 1914-1922
• Australian occupation:
  - 14.10.1914: Issuance of emergency paper money by the military authority (Rabaul Treasury) at a rate of 1 Australian Shilling = 1 Reichsmark
  - 30.06.1916: Demonetization of the German paper money, coins remained tolerated at the official rate of 1 Australian Shilling = 1 Reichsmark
  - 31.07.1920: Demonetization of the German coins.

Timeline

• 15.11.1889
• British ordinance [Courts and Laws Adopting Ordinance (Amended), No. 6] on the adoption of the Queensland legislation in force on 17.09.1888 to British New Guinea (including the currency legislation); effective immediately
  - 16.11.1905: Papua Act [No. 9] on the creation of the Papua Territory, took over the legislation of 1889; effective immediately.
• 19.07.1922
• Ordinance [Currency, Coinage, and Tokens, No. 23] on the adoption of the adoption of the Australian currency in the New Guinea Territory (former German colony); effective 27.07.1922
• 08.10.1928
• Ordinance [Currency, Coinage, and Tokens, No. 22] on the issuance of subsidiary coins of 1, ½ Penny in Australian currency for the New Guinea Territory; effective 10.10.1928
  - The coins were not issued for fear of confusion with the Australian 1, ½ Shilling coins. All but 403 Halfpenny und 400 Penny coins were melted down (were sold to collectors for 1 Shilling the pair).
• 14.01.1935
• Ordinance [Currency, Coinage, and Tokens, No. 5] on the issuance of subsidiary coins of 1 Shilling, 6, 3, 1 Penny in Australian currency for the New Guinea Territory; effective 31.07.1935 (issuance began on 02.12.1935)
• 1942-1945
• Japanese occupation of New Guinea and Papua:
  - Issuance of Japanese Military Yen for the Pacific Islands ("Oceania") denominated in "Shilling" at a rate of 1 Military Yen = 1 Australian Shilling, which corresponded to a devaluation by -27.2%.
  - After liberation, the Australian currency was restored, the Japanese occupation currency was not redeemed (?).
• 06.12.1965
• Ordinance [Papua and New Guinea Currency Conversion Commission), No. 63] on the adoption of the Australian decimalization; effective 14.02.1966 (?)

Timeline

• 22.10.1973
• Law [Central Banking Act, c. 138] on the establishment of a central bank and the creation of a national currency; effective upon constitution of the bank on 01.11.1973.
  - 20.04.2000: Law [Central Banking Act, No. 1], replacing the 1973 act; effective immediately.
• 19.04.1975
• Start of currency exchange:
  - 19.04.1975: Start of issuance of the new banknotes and coins
  - 31.12.1975: Demonetization of the Australian currency.

Valuation Regimes

• 1975-1976
• Fixed rate against Australian Dollar
• 1976-
• Variable rate, did not fully follow the Australian devaluation on 30.11.1976 and decoupled half a month later.