The monetary unit of Papua New Guinea is the Toea (TOEA). It is the official currency of the country and was introduced in 1975. It is divided into 100 smaller units called 'senti'. The Toea is issued by the Bank of Papua New Guinea and is available in both coins and banknotes. The coins come in denominations of 1, 2, 5, 10, 20, and 50 Toea, while the banknotes come in denominations of 2, 5, 10, 20, 50, 100, 200, 500, 1000, and 5000 Toea.