Kina performs well

Business, Normal

THE PNG kina performed relatively well last week driven by strong PGK/USD.
The kina appreciated by 1.1% against the USD in the interbank market driven by USD inflows.
The kina appreciated against the yen, euro and NZD by 2.6%, 2.2% and 2.0% respectively.
The interest rate hike and a strong data released last week in Australia added some fuel to AUD/USD but failed to filter through to the PGK/AUD cross.