The Brunei Darussalam Central Bank (abbrev: BDCB; Malay: Bank Pusat Brunei Darussalam) is the central bank of Brunei. In addition to creating the Brunei currency and managing the nation's monetary policy, its major goals consisted of building and upholding domestic price stability, guaranteeing the stability of the financial system, particularly via the creation of prudential standards and financial regulations, and support the establishment and operation of effective.
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Brunei Darussalam Central Bank in the context of Singapore dollar
The Singapore dollar (sign: S$; code: SGD) is the official currency of the Republic of Singapore. It is divided into 100 cents (Malay: sen, Chinese: 分; pinyin: fēn, Tamil: காசு, romanized: kācu). It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar.
As of 2024, the Singapore dollar is the 13th most traded currency in the world. Apart from its use in Singapore, the Singapore dollar is also accepted as customary tender in Brunei according to the Currency Interchangeability Agreement between the Monetary Authority of Singapore and the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam). Likewise, the Brunei dollar is also customarily accepted in Singapore.
Brunei Darussalam Central Bank in the context of Brunei-Singapore Currency Interchangeability Agreement
The Brunei–Singapore Currency Interchangeability Agreement, formally known as the Currency Interchangeability Agreement, is a bilateral arrangement between Brunei and Singapore that permits the Brunei Dollar and the Singapore Dollar to be exchanged at par value and without any transaction charges. Initially established in 1967 as a trilateral agreement inclusive of Malaysia, the pact facilitated seamless monetary interchangeability among the three nations. However, Malaysia unilaterally withdrew from the agreement in 1973, leaving Brunei and Singapore to uphold the arrangement independently.
Under the terms of the agreement, the Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS) are obliged to accept and exchange the other party's issued notes and coins at face value and without fees. This obligation applies solely to the central monetary authorities; commercial entities are not legally compelled to accept the counterpart currency and are thus within their rights to decline it, as the foreign currency is recognised in both jurisdictions only as "customary tender" rather than legal tender. Nonetheless, such refusals are relatively uncommon particularly among larger businesses and institutions where transactions and financial interconnectivity are more routine.
Brunei Darussalam Central Bank in the context of Brunei dollar
The Brunei dollar (sign: B$, Malay: ringgit, will be renamed to dolar Brunei starting from the 2026 series; currency code: BND), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. The currency is divided into 100 cents (Malay: sen) and is issued by the Brunei Darussalam Central Bank.
Under a Currency Interchangeability Agreement in 1967, the Brunei dollar is interchangeable with the Singapore dollar at par. As such, the Brunei dollar is accepted in Singapore as "customary tender"; likewise, the Singapore dollar is accepted in Brunei.