British North Borneo dollar
Encyclopedia
The British North Borneo dollar was the currency
of British North Borneo from 1882 to 1953. It was subdivided into 100 cents. The dollar had remained at par with the Straits dollar
(and its successor the Malayan dollar
), the currency of Malaya
and Singapore
, at the value of one dollar to 2 shilling
s 4 pence
sterling
from its introduction until both currencies were replaced by the Malaya and British Borneo dollar
in 1953. Both coins and banknotes are issued by the British North Borneo Company
.
During the Japanese occupation period (1942–1945), paper money was issued in denominations ranging from 1 cent to 1000 dollars. This currency was fixed at 1 dollar = 1 Japanese yen
, compared to a 1:2 pre-war rate. Following the war, the Japanese occupation currency was declared worthless and the previous issues of the British North Borneo dollar regained their value relative to sterling (two shilling
s four pence
).
.
, or both.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of British North Borneo from 1882 to 1953. It was subdivided into 100 cents. The dollar had remained at par with the Straits dollar
Straits dollar
The Straits dollar was the currency of the Straits Settlements from 1904 until 1939. At the same time, it was also used in the Federated Malay States, the Unfederated Malay States, Sarawak, Brunei, and British North Borneo.-History:...
(and its successor the Malayan dollar
Malayan dollar
The dollar was the currency of the British colonies and protectorates in Malaya and Brunei until 1953. It was introduced in 1939, replacing the Straits dollar at par, with 1 dollar = two shillings four pence sterling .-Board of Commissioners of Currency, Malaya formed:The Malayan dollar was issued...
), the currency of Malaya
British Malaya
British Malaya loosely described a set of states on the Malay Peninsula and the Island of Singapore that were brought under British control between the 18th and the 20th centuries...
and Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, at the value of one dollar to 2 shilling
Shilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...
s 4 pence
Penny
A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...
sterling
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
from its introduction until both currencies were replaced by the Malaya and British Borneo dollar
Malaya and British Borneo dollar
The Malaya and British Borneo dollar was the currency of Malaya, Singapore, Sarawak, British North Borneo and Brunei from 1953 to 1967. The currency was issued by the Board of Commissioners of Currency, Malaya and British Borneo...
in 1953. Both coins and banknotes are issued by the British North Borneo Company
British North Borneo Company
The North Borneo Chartered Company or British North Borneo Company was a chartered company assigned to administer North Borneo in August 1881. North Borneo became a protectorate of the British Empire with internal affairs administered by the company until 1946 when it became the colony of British...
.
During the Japanese occupation period (1942–1945), paper money was issued in denominations ranging from 1 cent to 1000 dollars. This currency was fixed at 1 dollar = 1 Japanese yen
Japanese yen
The is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling...
, compared to a 1:2 pre-war rate. Following the war, the Japanese occupation currency was declared worthless and the previous issues of the British North Borneo dollar regained their value relative to sterling (two shilling
Shilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...
s four pence
Penny
A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...
).
Coins
Throughout its history, coins were minted in values of ½ cent, 1 cent, 2½ cents, 5 cents, and 25 cents. Only the 25 cent coin contains precious metalPrecious metal
A precious metal is a rare, naturally occurring metallic chemical element of high economic value.Chemically, the precious metals are less reactive than most elements, have high lustre, are softer or more ductile, and have higher melting points than other metals...
.
Banknotes
Banknotes were printed in values of 25 cents, 50 cents, $1, $5, $10, and $25. The design of the banknotes did not change much during the currency's lifetime. However, their physical sizes tend to shrink over time. They either show the coat of arms, Mount KinabaluMount Kinabalu
Mount Kinabalu is a prominent mountain on the island of Borneo in Southeast Asia. It is located in the East Malaysian state of Sabah and is protected as Kinabalu National Park, a World Heritage Site. Kinabalu is the tallest peak in Borneo's Crocker Range and is the tallest mountain in the Malay...
, or both.