To commemorate the 50th Anniversary of the Currency Interchangeability Agreement, Sultan Haji Hassanal Bolkiah, Sultan and Yang Di-Pertuan of Brunei Darussalam, and Prime Minister of Singapore Lee Hsien Loong jointly launched commemorative S$50 and B$50 notes at a ceremony held at the Singapore Istana.
One million B$50 and two million S$50 commemorative notes will be available for exchange at face value at banks in Singapore from Friday, according to a press statement released by the Monetary Authority of Singapore.
The notes feature the same design elements and layout.
The front of the note depicts the 50th Anniversary logo of the Agreement. It features the Simpur, a prominent flower found in Brunei Darussalam, and the Vanda Miss Joaquim, Singapore’s national flower.
Both in full bloom, they symbolise the flourishing friendship between the two countries.
The reverse side of the notes reflects the close ties between both countries in various areas, such as defence, education and tourism.
Under the Currency Interchangeability Agreement established in 1967, the Autoriti Monetari Brunei Darussalam (AMBD) and the Monetary Authority of Singapore (MAS) accept from banks the currency notes and coins issued by the other. They also exchange them at par and without charge, into their own currency.
Banks in both countries accept for deposit, from the public and businesses, currency issued by the other country at par.