Singapore and Brunei signed the Currency Interchangeability Agreement in 1967.
Under the agreement, each country undertakes to accept the currency issued by the other at par.
The Monetary Authority of Singapore (MAS) website states that members of the public and businesses can safely accept Brunei currency received for payment.
However, I have had difficulties using Brunei currency notes and coins in Singapore.
I went to a store in a shopping mall once to purchase some dessert but the cashier rejected my Brunei dollars, telling me that it is troublesome to deal with Brunei currency as its bank's cash deposit machine will not accept it.
I once went to another store to buy noodles and tried paying with Brunei notes, and the cashier rejected them, telling me that he was not familiar with the currency.
I am sure there are others experiencing this problem and I hope that the MAS will educate businesses about the use of Brunei currency here.
Banks should also allow all their cash deposit machines to accept Brunei currency notes, just like in Brunei, where Singapore dollars can be deposited into all cash deposit machines.
This article was first published on Aug 24, 2015.
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