DEAR EDITOR,
THE Currency Interchangeability Agreement between Brunei and Singapore has been in place for nearly 50 years.
However, of late, the Bruneian dollar is not as widely being accepted in Singapore, compared to how widely the Singapore dollar is being accepted in Brunei.
Many Singaporean retailers reject the Bruneian Dollar, claiming that it is no longer on par with the Singapore dollar.
As for the Singaporean people, many, especially the younger persons, are not aware that both the currencies are pegged together.
One suggestion to overcome this is that both the countries should circulate the $20 notes launched in 2007 to commemorate the 40th anniversary of the Currency Interchangeability Agreement.
The commemorative note will serve to educate the public that the Currency Interchangeability Agreement is still valid.
Furthermore, both the countries should circulate the $20 denomination which would bridge the gap between the $10 and $50 notes.
Rather than to limit the print, I would like to urge the Monetary Authorities of both countries to re-launch the $20 note for circulation.
Elgar Lee, Singapore
Source: http://www.mas.gov.sg/currency/currency-interchangeability-agreement-wit...