Autoriti Monetari Brunei Darussalam (AMBD) have found that there have been photos circulating through the social media with regards to the difference in the exchange rates for the Singapore Dollar (SGD) and the Brunei Dollar (BND).
In a press release, AMBD would like to share that The Currency Interchangeability Agreement (CIA) was signed in 1967 between Brunei Darussalam and the Republic of Singapore. Under the CIA, each country undertakes to accept the currency issued by the other country at par or 1:1. Brunei currency is circulated and accepted as customary tender to pay for goods and services in Singapore, where Singapore currency is the legal tender.
More details in Wednesday’s Borneo Bulletin.
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