Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> The time when Brunei, M'sia & S'pore, shared one currency

views
     
SUSsoundsyst64
post Nov 13 2011, 11:59 AM, updated 13y ago

I'm No-Longer-Noobs
*******
Senior Member
3,725 posts

Joined: Jul 2005
From: In /hardware/

http://miricommunity.net/viewtopic.php?f=11&t=41687&start=0

Anyone remember this? Half a century (50 years) ago, Brunei, Malaysia and Singapore shared a common currency - valuing at the same rates with each others. At that time, they were of 5 separate entities; Brunei, British Malaya, British Strait Settlements, British North Borneo, and Sarawak.

The Straits Dollar was introduced in 1904 to be the currency for the Strait Settlements (which consisted of Singapore, Malacca, Penang and Dinding), the Federated Malay States and the Unfederated Malay States, and Brunei. It however, can also be used in Sarawak and British North Borneo.

Prior to this, the Malay States used the British Trade Dollar, the Strait Settlements used the Indian Rupee (being governed directly from the office in India), and Brunei used the Brunei Pitis.

user posted image
The Straits Dollar depicting UK King George V

Sarawak had its own currency since 1858, known as the Sarawak Dollar

user posted image

While the British North Borneo also had its own currency, the British North Borneo Dollar since 1882. The British North Borneo is today known as Sabah.

user posted image

In 1939, the Straits Dollar was replaced by the Malayan Dollar, which became the official currency for the Strait Settlements, British Malaya and Brunei. The currency was temporarily interrupted in World War 2, in which the Japanese issued the famous Japanese 'Banana notes'.

user posted image
The Malayan Dollar, depicting UK King George VI

In 1953, the British decided to merge everything into one, replacing the Malayan Dollar with the Malaya and British Borneo Dollar. The Sarawak Dollar and the British North Borneo Dollar were then retired. The new currency became the official currency in Brunei, Malaya, Singapore, British North Borneo, and Sarawak.

user posted image
user posted image
The Malaya and British Borneo Dollar, depicting UK Queen Elizabeth II

In 1957, Malaya gained independence from UK, and in 1963 Malaysia was formed, with Singapore expelled in 1965. By 1967, the three countries (Brunei, Malaysia and Singapore) began to issue their own currencies. The Malaya and British Borneo Dollar officially came to an end in 1969.

The three countries however, signed a currency interchangeable agreement putting their currencies at par with each other (SGD$1 = RM1 = BND$1) In 1973, Malaysia, the largest economy of the three, decided to terminate the agreement. Brunei and Singapore continue with the Agreement until today. In 2007, Brunei and Singapore celebrated their 40 years anniversary of the currency interchangeable agreement. Today SGD$1 = BND$ = RM2.4

user posted image
user posted image
Brunei & Singapore Dollar depicting the 40 yrs anniversary of currency interchangeability agreement - 2007

For 50 years now, we take a look back at Brunei, Malaya, British North Borneo, Sarawak and Singapore, with British North Borneo and Sarawak joining Malaya to form Malaysia while Brunei and Singapore go their own ways.

user posted image


SUSsoundsyst64
post Nov 13 2011, 12:39 PM

I'm No-Longer-Noobs
*******
Senior Member
3,725 posts

Joined: Jul 2005
From: In /hardware/

QUOTE(rock_star @ Nov 13 2011, 12:38 PM)
wait 2013 first

if 2012 happen, membazir tenaga je aku migrate
*
or wait for malaysia to bankrupt in 2019 tongue.gif
SUSsoundsyst64
post Nov 13 2011, 04:05 PM

I'm No-Longer-Noobs
*******
Senior Member
3,725 posts

Joined: Jul 2005
From: In /hardware/

QUOTE(ahtiven @ Nov 13 2011, 04:03 PM)
I want my sarawak dollars back!
*
should declare sarawak as a country, get out from mareshia tongue.gif
SUSsoundsyst64
post Dec 8 2011, 06:37 PM

I'm No-Longer-Noobs
*******
Senior Member
3,725 posts

Joined: Jul 2005
From: In /hardware/

bump

Bump Topic Add ReplyOptions New Topic
 

Change to:
| Lo-Fi Version
0.0198sec    0.15    6 queries    GZIP Disabled
Time is now: 29th March 2024 - 10:41 PM