Currencies/Brunei dollar

Introduction

The Brunei dollar (symbol: $, B$; code: BND) is the official currency of Brunei Darussalam. It is subdivided into 100 cents (sen). The currency is issued and regulated by the Brunei Darussalam Central Bank (BDCB). The Brunei dollar has been interchangeable at par with the Singapore dollar (SGD) since 1967 under the Currency Interchangeability Agreement.

History

The Brunei dollar was introduced in 1967, replacing the Malaya and British Borneo dollar at par. Prior to that, Brunei used the Straits dollar and the Malayan dollar.

When the Malaya and British Borneo dollar was replaced, Brunei, Malaysia, and Singapore entered into a currency interchangeability agreement. In 1973, Malaysia withdrew, but Brunei and Singapore continued their agreement, maintaining a 1:1 peg between their currencies.

The Brunei dollar has since remained closely tied to the Singapore dollar, ensuring monetary stability for the country.

Coins

The first Brunei coins were issued in 1967 in denominations of 1, 5, 10, 20, and 50 sen. Over time, changes in metal composition and design were made, but the denominations have remained the same.

The 1 sen coin has become less common in circulation but remains legal tender. The 50 sen coin is the highest-value coin in everyday use.

Banknotes

The first series of banknotes was issued in 1967 in denominations of B$1, B$5, B$10, B$50, and B$100. Higher denominations such as B$500, B$1,000, and B$10,000 were later introduced.

From 2004 to 2011, Brunei transitioned to polymer banknotes with enhanced security features. In 2007, a commemorative B$20 polymer note was issued to celebrate the 40th anniversary of the currency agreement with Singapore. In 2025, a new series of banknotes was announced, to be put into circulation in 2026, featuring denominations of B$1, B$5, B$10, B$100, and B$500.

Currency

The Brunei dollar is subdivided into smaller units following the equivalence chain

100 sen = 1 dollar (BND)

The Brunei dollar is pegged to the Singapore dollar at a fixed 1:1 exchange rate under the long-standing Currency Interchangeability Agreement. Both currencies are accepted interchangeably in Brunei and Singapore.

Against the US dollar, the Brunei dollar has a floating rate. As of recent data, 1 BND is approximately equal to 0.77 USD, while 1 USD equals about 1.29 BND.

Legacy

The Brunei dollar is a symbol of the nation’s sovereignty and economic independence. Its continued parity with the Singapore dollar reflects close economic and political ties between the two nations. The use of polymer notes and advanced security features has positioned the Brunei dollar among modern currencies with high standards of durability and safety.