Brunei-Singapore Currency Interchangeability Agreement
The Currency Interchangeability Agreement (the Agreement) between Brunei Darussalam and Singapore was established in 1967 to promote monetary cooperation between the two countries.
Under the Agreement:
- The Autoriti Monetari Brunei Darussalam (AMBD) and the 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 and without charge. Hence, businesses and members of the public should not be concerned about accepting payments in Brunei currency.
The Agreement reflects the continuing, strong bilateral relationship between the two countries, and financial cooperation between AMBD and MAS.
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, 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 were made available for public exchange at face value. Banks in Brunei Darussalam and Singapore also co-distributed a set of two commemorative notes – one Brunei Darussalam $50 note and one Singapore $50 note. Each set was accompanied by a complimentary folder.
In addition to the commemorative and numismatic notes which the public could exchange at the banks, five types of limited edition numismatic note sets (Identical Numbered Notes Set, Singapore 3-in-1 Uncut Sheet, Brunei 3-in-1, 8-in-1 and 40-in-1 Uncut Sheets) were available for purchase.
Currency Interchangeability Agreement 50th Anniversary Commemorative and Numismatic Notes Video
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.
Both the Brunei Darussalam and Singapore commemorative notes contain an innovative optical security feature that depicts Brunei Darussalam’s Istana Nurul Iman and Singapore’s Istana. The feature uses nanoparticles to create special diffractive and colour-shifting optical effects which are visible to the naked eye but extremely difficult for counterfeiters to replicate.
The innovative optical security feature on the commemorative notes won the Best Applied Security Product award category at the Excellence in Holography Awards 2017. The security feature also received a Commendation Award in the Innovation in Holographic Technology category. Click for more details on the award.
Singapore $50 Commemorative Note
Brunei Darussalam $50 Commemorative Note
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 commemorative and 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 purchase.
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 Encik Yusof bin Ishak, a stalk of the “Dendrobium Puan Noor Aishah” orchid (named after the wife of the late President Yusof bin 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.