Brunei dollar

 

Brunei dollar ringgit Brunei (Malay)
5 sen
ISO 4217 Code	BND
User(s)	Brunei, Singapore
Inflation	0.9%
Source	The World Factbook, 2004
Pegged with	Singapore dollar at par
Subunit
1/100	sen
Symbol	B$
Coins	1, 5, 10, 20, 50 sen
Banknotes	1, 5, 10, 50, 100, 500, 1000, 10000 dollars
Central bank	Brunei Currency Board
Website	www.finance.gov.bn/bcb/bcb_index.htm

The dollar (ringgit Brunei in Malay, 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.

The Brunei dollar is pegged to the Singapore dollar at a 1:1 ratio. (Singapore is Brunei's major trading partner.)

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 until 1967, when it began issuing its own currency.

The Brunei dollar replaced the Malaya and British Borneo dollar in 1967. Until June 23, 1973, the Malaysian dollar was exchangeable at par with the Singapore and Brunei dollars. The Monetary Authority of Singapore and the Brunei Currency and Monetary Board still maintain the exchangeability of their two currencies.

Coins

Main article: Coins of the Brunei dollar

To date, three series of coins for circulation have been issued.

• First Series (1967) - These had the profile of HM the late Sultan Sir Omar Ali Saifuddin, the 28th ruler of Brunei
• Second Series (1968 - 1984) - These were the same as the first series with exception that the profile of HM Sultan Omar Ali Saifuddin was replaced by the profile of HM Sultan Hassanal Bolkiah, the 29th and current ruler of Brunei. All subsequent currency has the profile of HM Sultan Hassanal Bolkiah.
• New Series (1996 - current) - These had a different profile of HM Sultan Hassanal Bolkiah.

Coins in circulation [1]

• 1 sen
• 5 sen
• 10 sen
• 20 sen
• 50 sen

Note: The old $1 coins (First and Second series) are legal tender in Brunei although they are no longer in circulation.

Banknotes

To date, five series of currency notes for circulation have been issued. The colours of $1, $5, and $10 notes have been the same for all the series of banknotes. [2]

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 - ornage
• $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 (polymer and paper) series

Fourth series - (1996 - current) the polymer series.

• $1 - blue
• $5 - green
• $10 - red
• $50 - light blue
• $100 - gold
• $500 - orange

2004 (polymer) series

Polymer banknotes were introduced in (2004) due to high cases of banknote forgery. The design were also updated

• $50 - light blue and bronze (2004)
• $100 - gold (2004)
• $500 - pink (2006)
• $1000 - (2007) ^{[citation needed]}
• $10 000 - (2006)

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.^[1]

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.^[2] 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.^[2]

The circulation version has been available since 16 July 2007.^[3]

Current status

The Brunei dollar is legal tender in the Sultanate of Brunei Darussalam. It is at par with the Singapore dollar and is accepted as "customary tender" in Singapore according to the Currency Interchangeability Agreement,^[4] although it is not legal tender there. Likewise, the Singapore dollar is customarily accepted in Brunei.

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See also

• Economy of Brunei

References

External links

• Don's World Coin Gallery - Brunei
• Ron Wise's World Paper Money - Brunei ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Asia ^{Mirror site}
• The Global History of Currencies - Brunei Darussalem
• Global Financial Data currency histories table ( Microsoft Excel format)
• Brunei Currency Board

Preceded by: Malaya and British Borneo dollar Reason: Currency Agreement Ratio: at par, or 60 dollars = 7 British pounds

Currency of Brunei, Singapore 1967 – Concurrent with: Singapore dollar

Succeeded by: Current

Currencies named dollar or similar
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Circulating, formerly a.k.a. dollar	Malaysian dollar
Obsolete	Antigua dollar · British North Borneo dollar · British West Indies dollar · Ceylonese rixdollar · Confederate States of America dollar · Continental dollar · Danish rigsdaler · Danish West Indian daler (dollar) · Danish West Indian rigsdaler · Dominican dollar · Dutch rijksdaalder · Greenlandic rigsdaler · Grenadan dollar · Hawaiian dollar (dala) · Kiautschou dollar · Malaya and British Borneo dollar · Malayan dollar · Mauritian dollar · Mongolian dollar · Nevisian dollar · New Brunswick dollar · Newfoundland dollar · Norwegian rigsdaler · Norwegian speciedaler · Nova Scotian dollar · Penang dollar · Puerto Rican dollar · Rhodesian dollar · Saint Kitts dollar · Saint Lucia dollar · Saint Vincent dollar · Sarawak dollar · Sierra Leonean dollar · Slovenian tolar · Spanish dollar · Straits dollar · Sumatran dollar · Swedish riksdaler · Old Taiwan dollar · Texan dollar · Trinidadian dollar · Tobagan dollar · Tuvaluan dollar
Obsolete, a.k.a. dollar	Chinese yuan · Ethiopian birr
Conceptual	Eurodollar · International dollar · Petrodollar · Geary-Khamis dollar
Virtual	Linden dollar
Fictional	Dollarpound
Private	Antarctican dollar · Calgary dollar · Disney dollar · Liberty dollar · Toronto dollar · Millennium Dollar
See also	Dollar sign · Holey dollar · Thaler · $1

Currencies of Asia
Central	Afghanistani afghani · Kazakhstani tenge · Kyrgyzstani som · Mongolian tögrög · Russian ruble · Tajikistani somoni · Turkmenistani manat · Uzbekistani som
East	Chinese yuan · Hong Kong dollar · Japanese yen · Macanese pataca · North Korean won · New Taiwan dollar · South Korean won
South-East	Brunei dollar · Cambodian riel · Indonesian rupiah · Lao kip · Malaysian ringgit · Myanmar kyat · Philippine peso · Singapore dollar · Thai baht · U.S. dollar (East Timor) · Vietnamese đồng
South	Bangladeshi taka · Bhutanese ngultrum · Indian rupee · Maldivian rufiyaa · Nepalese rupee · Pakistani rupee · Sri Lankan rupee
West	Armenian dram · Azerbaijani manat · Bahraini dinar · Cypriot pound · Egyptian pound · Georgian lari · Iranian rial · Iraqi dinar · Israeli new sheqel · Jordanian dinar · Kuwaiti dinar · Lebanese lira · Omani rial · Qatari riyal · Saudi riyal · Syrian pound · Turkish new lira · UAE dirham · Yemeni rial

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