World Library  
Flag as Inappropriate
Email this Article

Malaya and British Borneo dollar

Article Id: WHEBN0004034764
Reproduction Date:

Title: Malaya and British Borneo dollar  
Author: World Heritage Encyclopedia
Language: English
Subject: Sarawak dollar, British North Borneo dollar, Malaysian ringgit, Riau rupiah, Dollar
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Malaya and British Borneo dollar

Malaya and British Borneo dollar
Ringgit (Malay)
رڠڬيت (Malay)
Malaya & British Borneo $1 note issued in 1959
Central bank Malayan and British Borneo Board of Commissioners of Currency
Bank Negara Malaysia
User(s) Malaya, Singapore, Brunei, North Borneo and Sarawak
Subunit
 1/100 cent
Symbol $
Coins 1, 5, 10, 20, 50 cents
Banknotes 1, 5, 10, 50, 100, 1000, 10,000 dollars

The Malaya and British Borneo dollar (known as the ringgit in Malay, Jawi: رڠڬيت) was the currency of Malaya, Singapore, Sarawak, North Borneo, Brunei and Riau archipelago from 1953 to 1967. The currency was issued by the Board of Commissioners of Currency, Malaya and British Borneo. Prior to 1952, the board was known as the Board of Commissioners of Currency, Malaya.

The Malaya and British Borneo dollar was used in Malaya after independence in 1957, and in Malaysia after its formation in 1963, as well as in Singapore after its independence in 1965. After 1967, the two countries and Brunei ended the common currency arrangement and began issuing their own currencies. However, the Malaya and British Borneo dollar continued to be legal tender until 16 January 1969. The currency was also being used in the Riau Archipelago in Indonesia prior to 1963.

History

Board of Commissioners of Currency Malaya and British Borneo

The Currency Ordinance No. 44 of 1952 of the Crown Colony of Singapore, No. 33 of 1951 of the Federation of Malaya, No. 10 of 1951 of North Borneo and No. 1 of 1951 of Sarawak implemented an agreement between those governments and the State of Brunei for the establishment of a Board of Commissioners of Currency to be the sole issuing authority in British Malaya and British Borneo.

This agreement became effective on 1 January 1952. The Board consisted of five members:

  1. Financial Secretary of Singapore who was also the Chairman of the Board
  2. Minister of Finance for the Federation of Malaya
  3. Governor of Sarawak
  4. Governor of North Borneo
  5. British Resident of Brunei
  6. and two further appointed by agreement of the participating governments.

End of common currency

On 12 June 1967, the currency union came to an end and Malaysia, Singapore and Brunei each began issuing their own currencies. The currencies of the three countries were interchangeable at par value under the Interchangeability Agreement until 8 May 1973 when the Malaysian government decided to terminate it. Brunei and Singapore continue with the Agreement until the present day.[1]

The Board of Commissioners of Currency Malaya and British Borneo was officially wound up on 30 November 1979.[2]

Coins

Coins were available in 1 (square coins issued between 1953 and 1961, circular coins from 1962), 5, 10, 20, and 50 cents.

Banknotes

1953 series

All notes bear the date 21 March 1953, and signed by W.C. Taylor, the Chairman of the Board of Commissioner of Currency. The 1, 5 and 10 dollar notes were printed by

1953 Series
Image Value Main Colour Description Date of issue
Obverse Reverse Obverse Reverse
$1 $1 $1 Blue/pink Elizabeth II State emblems of the Federation of Malaya and its constituent components, Singapore, North Borneo, Sarawak and Brunei 21 March 1953
$5 $5 $5 Green/yellow
$10 $10 $10 Red/green
$50 $50 $50 Blue/green
$100 $100 $100 Violet/pink
$1000 $1000 $1000 purple/yellow
$10000 $10000 $10,000 green/multicoloured

1959 series

1959 Series
Image Value Main Colour Description Date of issue
Obverse Reverse Obverse Reverse
$1 $1 $1 Blue/green Sail boat State emblem of the Federation of Malaya, Singapore, North Borneo, Sarawak and Brunei; scene of fishermen returning from sea 1 March 1959
$10 $5 $10 Red/grey Farmer ploughing padi field with buffalo State emblem of the Federation of Malaya, Singapore, North Borneo, Sarawak and Brunei 1 March 1961

References

  1. ^ "The Currency History of Singapore". Monetary Authority of Singapore. 9 April 2007. Retrieved 21 November 2010. 
  2. ^ "History of Money in Malaysia: Colonial Notes & Coins". Bank Negara Malaysia. 2010. Retrieved 21 November 2010. 

Other references

External links

  • Global Financial Data currency histories table
  • Tables of modern monetary history: Asia
Preceded by:
Sarawak dollar (post-WWII)
Reason: Creation of a common currency board
Ratio: at par, or 8.57 dollars = 1 British pound
Currency of Sarawak
1953 – 1963
Currency of Malaysia
1963 – 1967
Succeeded by:
Malaysian dollar
Location: Malaysia
Reason: End of common currency board
Ratio: at par, or 8.57 ringgit = 1 British pound
Preceded by:
British North Borneo dollar (post-WWII)
Reason: Creation of a common currency board
Ratio: at par, or 8.57 dollars = 1 British pound
Currency of British North Borneo
1953 – 1963
Preceded by:
Malayan dollar (post-WWII)
Reason: Creation of a common currency board
Ratio: at par, or 60 dollars = 7 British pounds, about 8.57 dollars = 1 British pound
Currency of Malaya
1953 – 1963
Currency of Singapore
1953 – 1963
Currency of Malaysia
1963 – 1965
Currency of Singapore
1965 – 1967
Succeeded by:
Singapore dollar
Location: Singapore
Reason: End of common currency board
Ratio: at par, or 8.57 dollars = 1 British pound
Currency of Brunei
1953 – 1967
Succeeded by:
Brunei dollar
Reason: End of common currency board
Ratio: at par, or 8.57 dollars = 1 British pound
Currency of Riau Archipelago
1953 – 1963
Succeeded by:
Riau rupiah
Location: Riau Archipelago
Reason: To create a common currency in Indonesia
Ratio: at par, or 8.57 Riau rupiah= 1 British pound
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.