Currency Interchangebility Agreement between Brunei and Singapore

from the Borneo Bulletin, 16th July 2008

Brunei, S'pore unveil $20 notes, ingot set

By James Kon

Mr Yip Pak Ling and Pg Hj Hashim holding the set. - PHOTOS: JAMES KON

The newly released 4-in-1 Currency Interchangeability Agreement circulation notes and ingot set.

To commemorate the 40th anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and the Republic of Singapore, the Brunei Currency and Monetary Board, with the cooperation of the Singapore Mint, has issued a 4-in-1 Currency Interchangeability Agreement circulation notes and ingot set, which will be available for purchase from today onwards.

In a press conference at the Brunei Currency and Monetary Board, Pg Hj Hashim bin Pg Hj Mohd Jadid, general manager of Mint, Gallery and Marketing of the Brunei Currency and Monetary Board, revealed that only 470 of the 4-in-1 Currency Interchangeability Agreement circulation notes and ingot sets are currently available.

Each of the set consists of a Currency Interchangeability Agreement BND20 and SGD20 notes, with matching serial numbers, one piece of silver ingot replicating a Currency Interchangeability Agreement BND20 and one piece of silver ingot replicating a Currency Interchangeability Agreement SGD20 note.

Each set is priced at BND370.

Pg Hj Hashim also disclosed that the sets are also available in Singapore. The total sets allocated for Singapore is 1,100.

Also present at the press conference was Mr Yip Pak Ling, senior vice-president and director of Singapore Mint.

In an interview about the Currency Interchangeability Agreement notes, Mr Yip said: "It is a unique and rare commemorative note that signify two countries coming together to mark an agreement that has lasted for 40 years.

"It is an important event showcasing the good relation between Brunei and Singapore governments," he added.

"I am happy that we have the notes in place and now we have issued the new ingot to celebrate the 40 years of Currency Interchangeability Agreement between Brunei and Singapore," he said.

On future projects between both countries, he said: "We have a few projects in the pipeline and we are still working with the Brunei Currency and Monetary Board. Both countries have their own mints. We wanted to work in terms of alliance in Asean to help each other in minting technologies and producing new coins."

Speaking on Brunei currency not being accepted by some of the merchants in Singapore, Mr Yip said: "I don't think it is true. The only time that shops have issues with the notes is when they are confused by Malaysia and Brunei notes. And to date, there are also many foreign workers who are still not familiar with Brunei notes. If you point out to them that it is Brunei currency, there will be no issues."