Everything about Brunei Dollar totally explained
The
ringgit Brunei (
Malay) or the
Brunei dollar (
English,
currency code:
BND), has been the
currency of
the Sultanate of Brunei since
1967. It is normally abbreviated with the
dollar sign $ and is divided into 100
sen (Malay) or
cents (English).
The Brunei dollar is
pegged to the
Singapore dollar at a 1:1 ratio. (
Singapore is one of
Brunei's major trading partners.)
History
Early currency in Brunei included
cowrie shells. Brunei is also famous for its bronze teapots, which were used as currency in barter trade along the coast of North
Borneo.
Brunei issued
tin coins denominated in
pitis in
AH1285 (
AD1868). These were followed by a one cent coin in
AH1304 (
AD1888). This cent was one hundredth of a
Straits dollar.
As a protectorate of
Britain in the early 20th century, Brunei used the
Straits dollar and later the
Malayan dollar and the
Malaya and British Borneo dollar 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
June 23,
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 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 isn't legal tender there. Likewise, the Singapore dollar is customarily accepted in Brunei.
Coins
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.
Banknotes
In 1967, the government (
Kerejaan Brunei) introduced notes in denominations of 1, 5, 10, 50 and 100 dollar. Notes for 500 and 1000 dollar followed in 1979. In 1989, the title on the paper money was changed to
Negara Brunei Darussalam, the official name of the country. 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.
Five series of notes have been issued. The colours of $1, $5, and $10 notes have been the same for all the series of banknotes.
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1967 series
First series (1967) - currency with the portrait of HM the late
Sultan Sir Omar Ali Saifuddin, the 28th ruler of Brunei.
- $1 - blue
- $5 - green
- $10 - red
- $50 - brown
- $100 - purple
1972 series
Second series - This series was the same as the first series with exception that the portrait of HM Sultan Omar Ali Saifuddin was replaced by the portrait of HM
Sultan Hassanal Bolkiah, the 29th and current ruler of Brunei. All subsequent currency has the portrait of HM Sultan Hassanal Bolkiah. In addition, two new higher denominations were issued in 1979.
$1 ~ $100 like 1967 series
$500 - orange
$1000 - brown
1989 series
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
$1000 - 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 not anymore printed.
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.
Commemorative
$25 - purple and beige (1992) » This was issued during the silver jubilee (25th anniversary) of HM 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 celebrates 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 creates 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.
Further Information
Get more info on 'Brunei Dollar'.
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