The Brunei dollar, also known as the ringgit, has been the currency of the Sultanate of Brunei since 1967. The ISO code is called BND and in order to better distinguish it from other types of dollars, the official abbreviation is BN $. The Brunei dollar corresponds in a ratio of 1: 1 to the Singapore dollar, which is also accepted as a means of payment in Brunei and vice versa – which means that the Brunei currency is also accepted in Singapore without hesitation.
History of the currency of Brunei
The Malaysian dollar, among other things, was the official currency in Brunei until 1967. After the establishment of Malaysia and after Singapore became independent, the Brunei dollar replaced the previous currencies with 100 cents as the new official currency.
The Brunei coins have a value of 1, 5, 10, 20 and 50 cents. The 1-cent coin was formerly made of bronze, the remaining coins are made of a copper-nickel alloy. In 1986 the bronze was also replaced by a copper coating.
With the introduction of the Brunei dollar in 1967, banknotes worth 1, 5, 10, 20 and 50 dollars were introduced. Since 1979 there have also been 500 and 1000 dollar bills and since 1989 there have even been 10,000 dollar bills. In the same year the lettering of the notes was changed. Since the change, Negara Brunei Darussalam, the official name of the country, can be read on the notes. In Malay is written on the notes: “The state of Brunei, the home of peace.”
Since 1967 five series of the Brunei dollar have already been put into circulation. The differences between the individual series include changes in the likeness of the rulers and changes in color.
Exchange into the currency of Brunei
When entering and leaving the country, it is allowed to bring the Brunei dollar in and out without restriction. The same applies to most of the foreign currencies. Only the importation of Indian banknotes, the rupees, is prohibited.
Anyone who wants to exchange money in Brunei can easily do so at any bank. If a credit card is used, the fees are usually lower. Travelers checks in US dollars are also particularly popular. However, all other travelers checks do not present any problems either.
In hotels, department stores and larger restaurants it is possible to pay with major credit cards. This should also work with the EC card, although it is best to consult the relevant credit institution beforehand.