The Brunei dollar (Malay: ringgit Brunei, currency code: BND), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 sen (Malay) or cents (English). The Brunei dollar is issued by the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam).
|Ringgit Brunei (Malay)|
ريڠڬيت بروني (Jawi)
|Freq. used||$1, $5, $10, $50, $100|
|Rarely used||$20, $25, $500, $1000, $10,000|
|Freq. used||5, 10, 20, 50 sen|
|Rarely used||1 sen|
|Central bank||Autoriti Monetari Brunei Darussalam|
(Monetary Authority of Brunei Darussalam)
|Inflation||1.33% at May 2015|
|Source||The World Factbook, 2012|
|Pegged with||Singapore dollar at par|
Under a Currency Interchangeability Agreement in 1967, the Brunei dollar is interchangeable with the Singapore dollar at par. As such, the Brunei dollar is accepted in Singapore as "customary tender"; likewise, the Singapore dollar is accepted for payments in Brunei.
As a protectorate of Britain in the early 20th century, Brunei used the Straits dollar from 1906, the Malayan dollar from 1939 and the Malaya and British Borneo dollar from 1953 until 1967, when it began issuing its own currency.
The Brunei dollar replaced the Malaya and British Borneo dollar in 1967 after the formation of Malaysia and the independence of Singapore. Until 23 June 1973, the Malaysian ringgit was exchangeable at par with the Singapore dollar and Brunei dollar. The Monetary Authority of Singapore and the Brunei Currency and Monetary Board (now the Authoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam) still maintain the exchangeability of their two currencies. The dollar is accepted as "customary tender" in Singapore according to the Currency Interchangeability Agreement, although it is not legal tender there.
Coins were used in Brunei from the 10th century. The Straits dollar was also used in Brunei from 1906.
History of coins used in Brunei
Due to the close ties between China and Brunei, the first type of coins used in Brunei were Chinese coins. This was initially called ‘Pitis’. They were later known as ‘Kue’ when local ‘Pitis’ were introduced. The local ‘Pitis’ coins had ‘Sultanate of Brunei’ stamped in front of the coin and the royal umbrella was imprinted at the back. These were issued from the 16th to the 19th century. Previous Islamic coins were also called the ‘Pitis’. Another type of coin that was used in Brunei were ‘Duit besi’ (which roughly translates to ‘Iron money’). Iron was considered valuable those days that it was used as money. 100 one-square inch pieces were valued at 1 dollar.
The last coin to be issued before the introduction of the Straits Settlements currency was the ‘Duit Bintang’, otherwise known as the ‘Star coin’ or the 'Star Cent'. It is called the Star coin because of the star imprinted on the obverse of the coin. It was minted in Birmingham, England, in 1887. It was made from copper.
History of banknotes used in Brunei
The Straits dollar was introduced in Brunei in 1906. It was later replaced by the Malayan dollar which was introduced to British colonies and Brunei in 1939. It replaced the Straits dollar at par with a 1:1 exchange rate. The Malayan dollar was issued by the Board of Commissioners of Currency in Malaya. The board stopped issuing the Malayan dollar during the Japanese invasion during World War II. The Malayan dollar had the portrait of King George VI in front of the note.
In 1952, the board was renamed the Board of Commissioners of Malaya and British Borneo. The board then began to issue notes to Malaya, Singapore, Sarawak, British North Borneo, and Brunei in 1953. This was known as the Malaya and British Borneo dollar. In 1967, the Malaya and British Borneo dollar was replaced by three new currencies: the Malaysian dollar, Singapore dollar and the Brunei dollar, all at par.
The Singapore dollar is still interchangeable with the Brunei dollar today.
In 1967, coins were introduced in denominations of 1, 5, 10, 20 and 50 cents. Except for the bronze 1 cent, the coins were struck in cupro-nickel. In 1986, copper-clad steel replaced bronze. Later, in 2008, the 1 cent coins switched compositions to brass.
On 12 June 1967, the government (Kerajaan Brunei) introduced notes in denominations of 1, 5, 10, 50 and 100 dollars. Notes for 500 and 1000 dollars followed in 1979. In 1989, the title on the paper money was changed to Negara Brunei Darussalam, the official name of the country, and the Malay term for “State of Brunei, Abode of Peace.” 10,000 dollar notes were introduced the same year. All notes bear the denomination in Malay (in both Rumi and Jawi) and in English. The English denomination appeared on the obverse below the denomination in Malay on the earlier series, but now appears on the reverse together with the Jawi.
First series (1967) – currency with the portrait of Sultan Omar Ali Saifuddin III, the 28th ruler of Brunei.
Second series – This series was the same as the first series with exception that the portrait of Sultan Omar Ali Saifuddin was replaced by the portrait of Sultan Hassanal Bolkiah, the 29th and current ruler of Brunei. All subsequent currency has the portrait of Hassanal Bolkiah. In addition, two new higher denominations were issued in 1979.
- $1 ~ $100 like 1967 series
- $500 – pink
- $1000 – yellow
Third series – the post independence series. This series was gradually being replaced by the fourth series.
- $1 – blue
- $5 – green
- $10 – red
- $50 – brown, green, orange
- $100 – purple
- $500 – orange
- $1,000 – red-violet, purple, olive
- $10,000 – green, orange
1996–2000 polymer and paper series
Fourth Series (1996–2000) all notes except for the polymer issues are no longer printed.
|1996 Polymer and Paper Notes|
|Image||Value||Dimensions||Main Colour||Description||Date of issue||Material|
|Obverse||Reverse||Obverse||Reverse||Window / Watermark|
|$1||141 x 69 mm||Blue||Sultan Hassanal Bolkiah||Rainforest Waterfall||Coat of Arms of Brunei|
|$50||158 x 75 mm||Brown, Green and Blue||Oil Rig||Sultan Hassanal Bolkiah|
|$100||Brown, Orange||Brunei International Airport|
|$500||175 x 81 mm||Orange||Royal Regalia Building||2000|
|For table standards, see the banknote specification table.|
2004–2007 (polymer) series
Polymer banknotes were introduced in (2004) due to high cases of banknote forgery. All of them are polymer. The $100 note of this series has won a gold medal award for its security features in the 22nd National Print Award in Australia in May 2005.
|2004–2007 Polymer Notes|
|Image||Value||Dimensions||Main Colour||Description||Date of|
|$50||158 x 75 mm||Light Blue and Bronze||Sultan Hassanal Bolkiah||Rainforest Bushes||Various different flora of Brunei||15 July 2004|
Hassanal Bolkiah's 58th birthday
|$100||Brown and orange||Chermin Island|
|$500||175 x 81 mm||Pink||Sultan Omar Ali Saifuddien III||The Sultan Omar Ali Saifuddien Mosque and the Sultan Haji Hassanal Bolkiah Foundation Building (Yayasan)||2006||28 December 2006|
|$1000||182 x 84 mm||Grey and Brown||Sultan Hassanal Bolkiah||The Ministry of Finance Building in Bandar Seri Begawan||21 June 2007|
|$10,000||180 x 90 mm||Gold and Green||The Legislative Council (Parliament) Building in Bandar Seri Begawan||28 December 2006|
|For table standards, see the banknote specification table.|
The S$10,000 and B$10,000 notes are the world's most valuable banknotes, worth USD 8000 as of September 2014 (that are officially in circulation). They are worth eight times as much as the next most valuable, the 1000 Swiss franc note (USD 1063).
2011 polymer series
- To commemorate the 65th birthday of Sultan Hassanal Bolkiah. Shortly after the notes were issued, the Braille dots on the upper left front corner of the new polymer notes are not raised. The Braille dots cannot be felt tactilely, and they are not accurately rendered as Braille numbers corresponding to the denominations. Specifically, the spacing of the dots is wrong, and they lack the lead-in character that indicates that numbers follow.
- $25 – purple and beige (1992)
- This was issued during the silver jubilee (25th anniversary) of Sultan Hassanal Bolkiah acceding to the throne. The design is of the 1989 series of currency.
- $20 – yellow (polymer, 2007)
- On 27 June 2007, Singapore and Brunei celebrated the 40th anniversary of the Currency Interchangeability Agreement (since 12 June 1967) by joint-issuing commemorative $20 notes.
- The two authorities issue distinct versions of the new $20 notes. They are both yellow, 149 × 72 mm in size, and made of polymer. The reverses are almost identical except that the Brunei version has their state title in Jawi script, while the Singaporean version has the state title of Brunei in Latin script. The obverse of the Singaporean version is similar to the current Portrait Series, whereas the obverse of the Brunei version is similar to the $50 and $100 of the 2004 series.
- There is a limited edition set, which consists of both versions in a folder, with matching serial number. The notes have "40th Anniversary Currency Interchangeability Agreement" overprinted on obverse. In addition, the Singaporean version has the two countries' state crests above the commemorative text. Only 12,000 sets are available, 10,000 from the Monetary Authority of Singapore, and 2,000 from the Brunei Currency and Monetary Board.
- $50 - yellow (polymer, 2017)
- In 2017, both Brunei and Singapore issued $50 polymer banknotes in commemoration of the 50th Anniversary of its Currency Interchangeability Agreement.
- $50 - yellow (polymer, 2017)
- In 2017, the Monetary Authority of Brunei Darussalam (Autoriti Monetari Brunei Darussalam) issued a $50 polymer banknote to commemorate the 50th anniversary of Sultan Hassan al-Bolkiah's accession to the throne.
|Current BND exchange rates|
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- Monetary Authority of Singapore. "The Currency Interchangeability Agreement". Archived from the original on 25 October 2012. Retrieved 23 October 2012.
- "Brunei History seen through its coinage". Brunei Times. Archived from the original on 22 July 2012. Retrieved 25 January 2012.
- "Brunei's currency notes before 1967". Archived from the original on 8 January 2014. Retrieved 2 September 2013.
- Basic Commerce for Brunei Darussalam. p. 23.
- Basic Commerce for Brunei Darussalam. p. 22.
- Ministry of Finance Archived 15 March 2008 at the Wayback Machine
- Linzmayer, Owen (2011). "Brunei". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. Retrieved 21 August 2011.
- The Brunei Times (28 December 2006). "Brunei issues new $10,000 bank note". Archived from the original on 9 February 2008. Retrieved 28 January 2008.
- PARITY DEMOCRACY and MONEY: Annual Meetings Paper 11 Archived 20 February 2012 at the Wayback Machine, COUNCIL for PARITY DEMOCRACY. Retrieved 18 November 2012.
- A poster released by the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam) that explains the security features on the 1 ringgit/dollar polymer banknote Archived 20 May 2013 at the Wayback Machine
- A poster released by the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam) that explains the security features on the 5 ringgit/dollar polymer banknote Archived 21 May 2013 at the Wayback Machine
- A poster released by the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam) that explains the security features on the 10 ringgit/dollar polymer banknote Archived 21 May 2013 at the Wayback Machine
- Brunei new 1-, 5-, and 10-dollar notes confirmed, BanknoteNews.com. Retrieved 27 July 2011.
- Brunei's new notes contain Braille blunder, BanknoteNews.com. Retrieved 19 August 2011.
- Accuracy of Braille in banknotes questioned Archived 26 November 2011 at the Wayback Machine, The Brunei Times. 9 August 2011. Retrieved 20 August 2011.
- Monetary Authority of Singapore (27 June 2007). "Commemorating the 40th Anniversary the Currency Interchangeability Agreement". Archived from the original on 3 July 2007. Retrieved 30 July 2007.
- Monetary Authority of Singapore (27 June 2007). "Annex 1, Commemorating the 40th Anniversary the Currency Interchangeability Agreement" (PDF). Archived from the original (PDF) on 7 August 2007. Retrieved 30 July 2007.
- Monetary Authority of Singapore (27 June 2007). "$20 Polymer Note to Commemorate 40 Years of the Currency Interchangeability Agreement". Archived from the original on 29 June 2007. Retrieved 30 July 2007.
- Currency Interchangeability Agreement between Brunei Darussalam and Singapore Monetary Authority of Singapore (www.mas.gov.sg). Retrieved on 2017-07-06.
|Wikinews has related news: Singapore and Brunei issue joint banknote|
Malaya and British Borneo dollar
Reason: Currency Agreement
Ratio: at par, or 60 dollars = 7 British pounds
|Currency of Brunei, Singapore
Concurrent with: Singapore dollar