Saturday, September 18, 2021

Money & Shopping in Brunei

AsiaBruneiMoney & Shopping in Brunei

The local currency is the Brunei Dollar ($). You may hear Ringgit used to refer to the dollar, but be sure the participants are not referring to the Malaysian Ringgit (MYR), which is worth less than half a Brunei dollar.

The Brunei dollar is pegged to the Singapore dollar at a 1:1 ratio. Both currencies are legal tender and may be used interchangeably, thus there is no need to exchange money if you are visiting from Singapore. (Similarly, excess Brunei dollars may be exchanged for Singapore dollars at par.) Many shops, however, refuse Singapore notes with apparently tiny rips, and warnings to that effect are placed on the cash register. In case of emergency, the Malaysian ringgit (RM) will be accepted, although the exchange rate may not be in your favor. The Brunei ringgit is not accessible in the country’s banks, although it may be acquired through money changers.

Brunei’s ringgit is split into 100 cents. There are notes ranging from $1 to $10,000 (by hand if purchasing a Rolls-Royce) and coins ranging from 1 to 50 cents. The 2004 series of bigger notes, as well as the smaller notes, are printed on vividly colored polymer notes.

Costs

Brunei is about on level with Singapore in terms of expense, which implies it is roughly twice the cost of neighboring Malaysia. You may save money by dining at local eateries rather than the more costly restaurants in hotels. Once extremely restricted, cheap lodging has increased in recent years, and you can now obtain a good bed for about $ 30 per night.