Lots of PNG risk at the moment. Obviously the shootings arent helping. I think its great that educated people are starting to stand up to corruption which is out of control there.
In the last two years, the PGK has been pegged to the USD. There is a massive foreign currency shortage. Now, no new Foreign currency bank accounts can be set up in PNG. Its illegal (ie, impossible) to send PGK offshore. But each bank is only provided a certain amount of Foreign currency to trade each day leaving hundreds of importers not able to conduct business. Just recently there were lines a mile long to get fuel (diesel) as it was in severe shortage do to the importers not being able to get their hands on enough USD (or other foreign currency) to buy the fuel.
I personally just postponed a business I was to set up on the islands. The main factor is the inability to legally get my capital out of PNG.
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Last
65.0¢ |
Change
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Mkt cap ! $260.6M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5043 | 61.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 63.0¢ | 9904 | 2 |
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| Last trade - 14.03pm 07/08/2025 (20 minute delay) ? |
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