Letters to Editor
Published Date: 10 October 2006

Response to "$10 deducted for Brunei notes"

Dear Sir,

I refer to the letter; "$10 deducted for Brunei notes" (The NewPaper, 3Oct). Charges and fees imposed by money-changers are purely commercial decisions. The Monetary Authority of Singapore does not regulate or influence this.

Under the Currency Interchangeability Agreement between Singapore aIid Brunei, I banks in Singapore will accept Brunei currency for deposit at par.

Retailers are aware of this and accept Brunei currency at par. Hence, there is no need to change Brunei currency for Singapore currency for use in Singapore.

Yours sincerely,

Angelina Fernandez
Director (Communications)