The lowdown on the Brunei Dollar
Economical Influences on the Brunei Dollar Exchange Rate
If you are considering converting AUD to BND, it’s good to get a snapshot of how the economy may influence the Brunei dollar.
Brunei's economy is supported mainly by crude oil and natural gas production, which makes up around 65% of their overall GDP.1
With excellent infrastructure and a stable government with a keen focus on foreign investment, Brunei enjoys one of the highest GDP per capita in the world.1
Citizens of Brunei do not pay personal income tax and the government provides free medical care and education through university.1
Under the Currency Interchangeability Agreement of 1967, the Brunei dollar is interchangeable with the Singapore dollar at par.2
Brunei Dollar Historical Exchange Rate
The Brunei dollar has seen some fluctuation during the last 5 years, remaining relatively strong and improving over time at a steady rate – particularly since 2015.3
At the end of June 2014 the AUD was buying around 1.17 BND. The BND strengthened during the following year; and by end of July 2015 1 AUD was buying approximately 0.99 BND.3
By 9 April 2016, the BND had held its strength, sitting at around 1.01 per AUD; a year later at the start of June 2017 the AUD was worth around 1.02 BND.3
The upward trajectory of the BND has been continuous throughout 2018. On 30 January 2018 1 AUD was converting to 1.06071 BND; by 31 October 2018 1 AUD was converting to 0.98264 per AUD.3
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1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/bx.html
2. Monetary Authority of Singapore - http://www.mas.gov.sg/currency/currency%20interchangeability%20agreement%20between%20brunei%20darussalam%20and%20singapore.aspx
3. XE - https://www.xe.com/currencycharts/?from=AUD&to=BND&view=5Y
*The information contained in this article has been compiled by Travelex from different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.