BRUNEI CURRENCY AND MONETARY BOARD

OPENING HOURS:

Monday to Thursday and Saturday

8.30 am to 12.00 noon

2.00 pm to 4.30 pm

~ ENTRANCE IS FREE ~

 

MINISTRY OF FINANCE

Commonwealth Drive

Bandar Seri Begawan

Negara Brunei Darussalam

Tel:    673-2383999

Fax:    673-2382232

INTRODUCTION

 

The Currency Gallery was officially declared open by Duli Yang Teramat Mulia Paduka Seri Pengiran Muda Mahkota Pengiran Muda Haji Al-Muhtadee Billah, the Crown Prince cum Senior Minister at the Prime Minister's Office on 16 Zulhijjah 1426 corresponding to 17 January 2006.

The Gallery exhibits the history and development of currencies used in Brunei Darussalam.  The exhibition consists mainly of old and new coins, paper and polymer notes and the commemorative coins issued by the Brunei Currency and Monetary Board.

 

 

 

 

 

THE EXHIBITION

The exhibition includes the barter system practiced by the people before the introduction of coins and paper money.  At one time, cowrie shells were used as currency in purchasing small items.  During the 14th century, Antonio Pigafetta who traveled in Magellan's voyage stopped in Brunei and noted in his journal the usage of Chinese coins known as Pitis (shown right).

 

 

The Brunei tin coins with the inscription "Malikul Adil" (shown below) were issued during the reign of Sultan Jalilul Akhbar, the 10th Sultan of Brunei.  The coins were the earliest tin coins issued in the history and development of Brunei currency.  The obverse of the Brunei tin coins depicted a camel, a cat, or flowers and jawi inscription on the reverse.

 

 

Did You Know?

Our B$100 polymer note won the Gold Medal award in the 22nd National Print Award (2005), Australia in the category of Security Printing.  The note was judge on the security features, design and the quality of printing.

Duit besi or iron strip money which was about an inch square and a quarter of an inch was circulated by Padian, the female vendors in the floating bazaar of Brunei River.  Miniature cannons between 6 inches and 12 inches long were also used as currency.  The iron strip and cannon currency were used during the reign of Sultan Omar Ali Saifuddin II.

The coinage of Queen Victoria dated 1845 was the first currency of The Straits Settlements used in this country.  The coinage and paper money of Sabah and Sarawak were also in circulation.

The paper money and coins of the Board of Commissioners of Currency, Malaya were used before the Second World War.  During the Japanese Occupation, the currency of the Board of Commissioners of Currency, Malaya were immediately withdrawn and replaced by the Japanese currency (more known as "Duit Pisang" not because they are made out of bananas or the leaves because they're NOT but because it has drawings of banana trees on them or shall I say on the obverse ).  At first the Japanese currency had some value, but later was issued in such large quantities that it massively depreciated and lost all purchasing power at the end of the war.  The war ended with the defeat of Japan in 1945.  The currency of the Board of Commissioners of Currency, Malaya was re-issued after the war.

On 1st January 1952, the currency of the Board of Commissioners of Currency, Malaya was reconstituted as the Board of Commissioners of Currency, Malaya and British Borneo.  New coins and notes bearing the portrait of Queen Elizabeth II were issued and continued to be made up to 1961.  Under the 1960 Malaya and British Borneo Currency Agreement, the Board was responsible in circulating the paper money and coinage in Malaysia and Brunei.  The agreement could be terminated by one of the parties.  In 1964, this power was exercised and a notice of cessation was issued.  The Board ceased to operate and stopped issuing the currency to the banks and public on Saturday, 10 June 1967.  In the same year , issues of currency were made in each country, by the Brunei Currency Board, Bank Negara Malaysia and Board of Commissioners of Currency, Singapore.

Did You Know?

Next year (2007) will mark the 40th Anniversary of the Currency Interchangeablility Agreement between Brunei and Singapore.  The Currency Interchangeability Agreement allows both countries to exchange the currency at par.  To know more about the facts of the agreement click here.  To know what to do with your $1 Singapore coins please click here.

The Brunei Currency Board for the first time issued and circulated notes in denominations of $1, $5, $10, $50 and $100 to the banks and the public on Monday 12 June 1967 and withdrew the currency notes of the Board of Commissioners of Currency, Malaya and British Borneo.  On 22 August 1967, Brunei Currency Board issued and circulated Brunei coins of 1 cent, 5 cents, 10 cents, 20 cents and 50 cents to the banks and public.  The coins of the Board of Commissioners of Currency, Malaya and British Borneo were then withdrawn.  On the obverse of the 1967 paper money and coinage is the portrait of the late Sultan Haji Omar Ali Saifuddien Sa'adul Khairi Waddien, the 28th Sultan of Brunei.

The notes and coinage is a one year issue only.  The notes and coinage issued after 1967 depicted the portrait of His Majesty Paduka Seri Baginda Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, Sultan and Yang Di-Pertuan of Brunei Darussalam the 29th Sultan of Brunei.  There were a few notes series being issued since 1967.  There were the 1972, 1989, 1996, 2000 and 2004.  In 1996, Brunei Currency Board for the first time introduced the polymer notes of $1, $5 and $10.  In 2004, Brunei Currency Board introduced the $50 and the award winning $100 polymer notes.

Did You Know?

You can purchase special limited issuance of commemorative notes, coins and medallions at the Brunei Currency and Monetary Board, Ministry of Finance.  Brunei Currency and Monetary Board maintains a tradition of issuing limited commemorative items especially in conjunction with special event.  To view details of the commemorative issues please click here.  So lets start collecting now

Above: Photo of Duli Yang Teramat Mulia Paduka Seri Pengiran Muda Mahkota
Pengiran Muda Haji Al-Muhtadee Billah, the Crown Prince cum Senior Minister at
the Prime Minister's Office together with Minister of Finance II, Board Members, Officers and Staffs

of the Brunei Currency and Monetary Board in front of the Currency Gallery Brunei Darussalam.

 

Note:

 

Copyright 2006 - Z.M @ gallery.bruneiresources.com - All rights reserved.