RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 0.4977 PGK (Papua New Guinea Kina). It is the official currency of Papua New Guinea, which is an Oceanian country located in Melanesia, a region of the southwestern Pacific Ocean north of Australia. The Kina was issued on 19 April 1975, replacing the Australian Dollar. The name of the currency "Kina" means a precious pearl. 1 PGK (Papua New Guinea Kina) is sub-divided into100 Toeas. The issue of the currency is controlled by the central bank, Bank of Papua New Guinea. The PGK (Papua New Guinea Kina) is pegged to none.