Currency Interchangeability Agreement between Brunei Darussalam and Singapore

Overview

The Currency Interchangeability Agreement (the Agreement) was established in 1967 to promote monetary cooperation between Brunei Darussalam and Singapore. Under the Agreement, the Autoriti Monetari Brunei Darussalam (AMBD) and the Monetary Authority of Singapore (MAS) accept from banks the currency notes and coins issued by the other, and exchange them at par and without charge, into their own currency. Banks in both countries also accept for deposit, from the public and businesses, currency issued by the other country at par. The Agreement reflects the continuing, strong bilateral relationship between the two countries, and financial cooperation between AMBD and MAS.   

The historical background to the Agreement and its relevance to both Brunei Darussalam and Singapore can be obtained here, on pages 73 to 76 (Box C).

Information on the circulation currency notes and coins of Brunei Darussalam can be found here.

50th Anniversary of the Agreement

To commemorate the 50th Anniversary of the Currency Interchangeability Agreement, Sultan Haji Hassanal Bolkiah, Sultan and Yang Di-Pertuan of Brunei Darussalam, and Mr Lee Hsien Loong, Prime Minister of Singapore, jointly launched a set of two $50 commemorative polymer notes, comprising one Brunei Darussalam $50 note and one Singapore $50 note, at a ceremony held at the Singapore Istana on 5 July 2017.

In celebration of this milestone, one million pieces of Brunei Darussalam $50 and two million pieces of Singapore $50 commemorative notes will be available for public exchange at face value from 7 July 2017 onwards. Banks in Brunei Darussalam and Singapore will also be co-distributing a set of two commemorative notes – one Brunei Darussalam $50 note and one Singapore $50 note. Each set will be accompanied by a complimentary folder.   

In addition to the commemorative notes which the public can exchange at the banks, an exclusive collection of five types of limited edition numismatic note sets will be available for sale. More information on the sets can be obtained from the Singapore Mint’s website at link.

Currency Interchangeability Agreement 50th Anniversary Commemorative Notes Video

 

 

Design of the 50th Anniversary $50 Commemorative Notes

The note is predominantly gold in colour and measures 158mm by 75mm.

The Brunei Darussalam and Singapore commemorative notes feature the same design elements and layout. The front of the note depicts the 50th Anniversary logo of the Agreement. It features the Simpur, a prominent flower found in Brunei Darussalam, and the Vanda Miss Joaquim, Singapore’s national flower. Both in full bloom, they symbolise the flourishing friendship between the two countries.

The reverse side of the notes reflects the close ties between both countries in various areas, such as defence, education and tourism. The Brunei Darussalam and Singapore commemorative notes were jointly designed by Mr Abdul Ajihis Haji Terawih, Mr Eng Siak Loy and Mr Weng Ziyan.  

Brunei Darussalam $50 Commemorative Note

Singapore $50 Commemorative Note

40th Anniversary of the Agreement

Singapore and Brunei Darussalam commemorated the 40th Anniversary of the Agreement on 27 June 2007 with the launch of a set of two $20 commemorative polymer notes, comprising one Brunei Darussalam $20 note and one Singapore $20 note, by Sultan Haji Hassanal Bolkiah, Sultan and Yang Di-Pertuan of Brunei Darussalam, and Mr Lee Hsien Loong, Prime Minister of Singapore, at a ceremony held in Bandar Seri Begawan, Brunei Darussalam.

Three million pieces of Singapore $20 commemorative notes were introduced into circulation through the banks.  A limited edition numismatic note set, consisting of two notes, one Singapore $20 note and one Brunei Darussalam $20 note with matching serial numbers, was also available for sale.

Design of the 40th Anniversary $20 Commemorative Notes

The note is predominantly orange in colour and measures 149mm by 72mm.

The front of the note features a portrait of Singapore’s first President, the late Mr Yusof Ishak, a stalk of the “Dendrobium Puan Noor Aishah” orchid (named after the wife of the late President Yusof Ishak) besides the portrait and a row of motifs of the Oncidium Goldiana orchid, a renowned Singapore heritage orchid species.

The reverse side of the note depicts distinctive national landmarks of Singapore’s Esplanade - Theatres on the Bay and buildings along our city waterfront, and Brunei’s Sultan Haji Omar ‘Ali Saifuddien Mosque with the Royal Barge and the water village.

 

Last Modified on 05/07/2017