SINGAPORE : A new currency note will be launched to commemorate 40 years of currency inter-changeability between Singapore and Brunei.

This was announced by Senior Minister Goh Chok Tong, who is now in Brunei.

Mr Goh said Prime Minister Lee Hsien Loong would be in Bandar Seri Begawan to launch the new currency note together with Brunei's Sultan Hassanal Bolkiah.

This is scheduled to take place at the end of this month.

The ties between Singapore and Brunei are not just confined to the leadership of the two countries.

Senior Minister Goh said the two economies are closely linked as well.

"That's why we have one currency. The occasion is an important one and there will be a new currency note to commemorate the 40th anniversary of the inter-changeability of our currencies. Prime Minister Lee Hsien Loong will be here to launch the new currency note together with his Majesty in Brunei," said SM Goh.

The new note would also be for circulation but with a limited issue, and Mr Goh believes it will be a collectors' item amongst Singaporeans and Bruneians.

SM Goh said there would be scenes of Brunei and Singapore on one side of the currency.

And on the reverse, the Singaporean note would have the Republic's crest, while Brunei's version would show the country's Royalty.

Meanwhile, Bruneians want to know what more can be done to get more Singaporean retailers to accept the Bruneian currency when they do shopping during visits to the island state.

Mr Goh said there is a need to repeatedly educate Singaporeans about the interchangeability of both currencies.

"They are not used to seeing the Brunei currency. If Bruneians spend a lot of money in Singapore and you have millions of currencies or Bruneian dollar floating around, there would be no problem. It's because Bruneians may not be spending so much in Bruneian currency, so when retailers see the currency, they are not familiar with it," said Mr Goh.

"So from time to time, we have to tell the retailers that we have this inter-changeable agreement with Brunei and the currency must be accepted. Therefore, the launching of the new currency note on the 40th anniversary is very important. It is a way to tell Singaporeans and also Bruneians, that we have this interchangeable currency."

The Senior Minister was speaking to the media after his audience with the Sultan.

He also called on Crown Prince Al-Muhtadee Billah and invited him to visit Singapore again, to learn more about the workings of the various ministries.

The Crown Prince had observed the defence and home affairs ministries during his last visit to Singapore in May 2006.

Mr and Mrs Goh Chok Tong are in Brunei to attend the royal wedding banquet of the Sultan's fourth daughter. - CNA /ls