| Brunei ringgit ringgit Brunei (Malay) |
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| ISO 4217 Code | BND | ||
|---|---|---|---|
| User(s) |  Brunei Singapore |
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| 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 ringgit | ||
| Central bank | Brunei Currency Board | ||
| Website | www.finance.gov.bn/bcb/bcb_index.htm | ||
The ringgit (Malay, English: dollar, 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. The ringgit is pegged to the Singapore dollar at a 1:1 ratio. (Singapore is Brunei's major trading partner.)
Contents |
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 ringgit replaced the Malaya and British Borneo dollar in 1967. Until June 23, 1973, the Malaysian ringgit was exchangeable at par with the Singapore dollar and Brunei ringgit. The Monetary Authority of Singapore and the Brunei Currency and Monetary Board still maintain the exchangeability of their two currencies. The ringgit is accepted as "customary tender" in Singapore according to the Currency Interchangeability Agreement,[1] although it is not 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 sen. Except for the bronze 1 cent, the coins were struck in cupro-nickel. In 1986, copper-clad steel replaced bronze. [1]
Banknotes
In 1967, the government (Kerejaan Brunei) introduced notes in denominations of 1, 5, 10, 50 and 100 ringgit. Notes for 500 and 1000 ringgit 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 ringgit notes were introduced the same year. All notes bear the denomination in both ringgit and (with the English number) in dollars. The English denomination initially appeared on the obverse below the ringgit denomination but now appears on the reverse. 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. [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 - 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 (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)
- $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.[2]
- 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.[3] 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.[3]
- The circulation version has been available since 16 July 2007.[4]
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See also
References
- ^ Monetary Authority of Singapore. The Currency Interchangeability Agreement. Retrieved on 2007-05-22.
- ^ Monetary Authority of Singapore (2007-06-27). Commemorating the 40th Anniversary the Currency Interchangeability Agreement. Retrieved on 2007-07-30.
- ^ a b Monetary Authority of Singapore (2007-06-27). Annex 1, Commemorating the 40th Anniversary the Currency Interchangeability Agreement. Retrieved on 2007-07-30.
- ^ Monetary Authority of Singapore (2007-06-27). $20 Polymer Note to Commemorate 40 Years of the Currency Interchangeability Agreement. Retrieved on 2007-07-30.
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 |
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