Wah, I didn’t know this fact. [tag]Singapore Dollars[/tag] can be used in Brunei while [tag]Brunei Dollars[/tag] can be used in Singapore. They carry the same value, meaning a Sing dollar is equal to a Brunei dollar in value, vice versa…
I have no idea that both currencies are legal tender in both countries. And this has been going on for decades, from June 12, 1967 to be exact! 40 years!
I only came to know about this when I was reading Thursday’s edition of The Straits Times (Singapore) this morning. According to the cover story, the [tag]Currency Interchangeability Agreement[/tag] came into light when both Singapore and Brunei signed the pact.
Previously, before 1967, Brunei, Singapore and Malaysia were in a monetary union with a common currency. After the union, each country issued its own currency. For the pact to have lasted 40 years, it really had stood the test of time.
To commemorate the event, both countries launch new S$20 bills….
Reading this article brings my mind to one thought. Because Singapore and Brunei signed this pact, both their currencies stand on equal ground….What if, Malaysia had signed this pact too and all three countries’ currencies are interchangeable and of the same value. I’m pretty sure 40 years back, the [tag]Malaysian Ringgit[/tag] is on equal value with the Singapore and Brunei dollar.
Now it’s in the range of 2.2 Ringgit to 1 dollar…..Malaysia’s Ringgit had devalued (or is it because of less stronger economic growth as compared to both countries)?
Hi, I'm Bobby Ong and I'm 21 years old. I'm currently studying Economics at University College London. I lead the typical, interesting college life and am having the time of my life touring Europe every holiday. Pardon me for the not-so-frequent update here. I'm just too absorbed having fun to even spend time in front of the computer. Read more about me 
June 29th, 2007 at 12:02 pm
cool yeah?
i hate it when some shops dont even recognise the currency.
June 29th, 2007 at 12:22 pm
yeah…it’s damn cool…but perhaps it’s not widely known…it’s my first time knowing abt it fr the newspaper too…..
June 29th, 2007 at 5:05 pm
i knew that
June 30th, 2007 at 8:46 am
wat the….malaysian currency lower than brunei ah????
June 30th, 2007 at 12:51 pm
I knew that too… I even used Brunei currency in Singapore before. hahahaha.. I still remember I used a B$100 to buy nice t-shirt at Singapore Night Safari. Nice place… would like to go there again.
June 30th, 2007 at 11:56 pm
why it seems like it’s only me who din noe abt this fact? hmmm….well, at least now i noe….better to know late than never….wanna use brunei dollars here n sg dollars in brunei some day….maybe i shall keep some brunei dollars in my wallet to spend over here…
July 2nd, 2007 at 10:55 pm
But all Bruneians know about this even before it was stated in the news.
We can use SGD here as long as it’s not torn.
Anyway, it’s better to keep SGD since the exchange rate is higher compare to BND.
July 4th, 2007 at 10:38 pm
oh SGD better value? then i shall use my SGD in brunei…but it wont differ much…i wanna visit brunei one day…
August 11th, 2007 at 12:47 am
[...] Previously, before 1967, Brunei, Singapore and Malaysia were in a monetary union with a common currency. After the union, each country issued its own currency. For the pact to have lasted 40 years, it really had stood the test of time. … …more [...]
August 12th, 2007 at 5:17 am
[...] Previously, before 1967, Brunei, Singapore and Malaysia were in a monetary union with a common currency. After the union, each country issued its own currency. For the pact to have lasted 40 years, it really had stood the test of time. … …more [...]
August 13th, 2007 at 10:34 am
[...] Previously, before 1967, Brunei, Singapore and Malaysia were in a monetary union with a common currency. After the union, each country issued its own currency. For the pact to have lasted 40 years, it really had stood the test of time. … …more [...]