Brunei dollar

From Wikipedia, the free encyclopedia

Brunei dollar
ringgit Brunei (Malay)
ريڠڬيت بروني (Jawi Malay)
Current Circulating Coins
Current Circulating Coins
ISO 4217 Code BND
User(s) Flag of Brunei Brunei
Flag of Singapore 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 cents
Banknotes
Freq. used $1, $5, $10, $50, $100
Rarely used $20, $25, $500, $1000, $10 000
Central bank Brunei Currency and Monetary Board
Website www.mof.gov.bn/mof/en/sections/bcmb/

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.)

Contents

[edit] 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.

Main article: Brunei pitis

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,[1] although it is not legal tender there. Likewise, the Singapore dollar is customarily accepted in Brunei.

[edit] Coins

Main article: Coins of the Brunei dollar

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. [2]

[edit] 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. [1]

[edit] 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

[edit] 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

[edit] 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

[edit] 1996-2000 Polymer and Paper Series

Fourth Series (1996-2000) all notes except for the polymer issues are not anymore printed.

1996 Polymer and Paper Notes
Image Value Dimensions Main Colour Description Date of issue Material
Obverse Reverse Obverse Reverse Window / Watermark
[2] [3] $1 141 x 69 mm Blue Sultan Hassanal Bolkiah Rainforest Waterfall Coat of Arms of Brunei
(Transparent window)		 1996 Polymer
[4] [5] $5 Green Rainforest Floor
[6] [7] $10 Red Rainforest Canopy
[8] [9] $50 158 x 75 mm Brown, Green and Blue Oil Rig Sultan Hassanal Bolkiah
(Watermark)		 1996 Paper
[10] [11] $100 Brown, Orange Brunei International Airport
[12] [13] $500 175 x 81 mm Orange Royal Regalia Building 2000
For table standards, see the banknote specification table.

[edit] 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.[3]

2004-2007 Polymer Notes
Image Value Dimensions Main Colour Description Date of
Obverse Reverse Obverse Reverse Transparent Window printing issue
[14] [15] $50 158 x 75 mm Light Blue and Bronze Sultan Hassanal Bolkiah Rainforest Waterfall Various different flora of Brunei 15 July 2004
Hassanal Bolkiah's 58th birthday
[16] [17] $100 Gold Rainforest Floor
[18] [19] $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
[20] [21] $1000 182 x 84 mm Blue Sultan Hassanal Bolkiah The Ministry of Finance Building 21 June 2007
[22] [23] $10,000 Unknown Green The Legislative Council Building 28 December 2006
For table standards, see the banknote specification table.

[edit] 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.[4]
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.[5] 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.[5]
The circulation version has been available since 16 July 2007.[6]
Current BND exchange rates
Use Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD MYR IDR
Use XE.com: AUD CAD CHF EUR GBP HKD JPY USD MYR IDR
Use OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD MYR IDR

[edit] See also

[edit] References

  1. ^ Monetary Authority of Singapore. The Currency Interchangeability Agreement. Retrieved on 2007-05-22.
  2. ^ Ministry of Finance
  3. ^ The Brunei Times (2006-12-28). Brunei issues new $10,000 bank note. Retrieved on 2008-01-28.
  4. ^ Monetary Authority of Singapore (2007-06-27). Commemorating the 40th Anniversary the Currency Interchangeability Agreement. Retrieved on 2007-07-30.
  5. ^ a b Monetary Authority of Singapore (2007-06-27). Annex 1, Commemorating the 40th Anniversary the Currency Interchangeability Agreement. Retrieved on 2007-07-30.
  6. ^ Monetary Authority of Singapore (2007-06-27). $20 Polymer Note to Commemorate 40 Years of the Currency Interchangeability Agreement. Retrieved on 2007-07-30.

[edit] External links

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
v • d • e
Currencies named dollar or similar
Circulating
Circulating, formerly a.k.a. dollar
Obsolete
Antigua dollar · British Columbia 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 · Prince Edward Island 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
Conceptual
Virtual
Fictional
Private
See also
v • d • e
Currencies of Asia
Central
East
South-East
South
West