New Taiwan dollar
The new dollar is the legal currency of Taiwan. It is currently also circulating in the territories under Taiwanese sovereignty like the Pescadores, Kinmen, Matsu and Pratas Islands since 1949. It was originally issued by the Bank of Taiwan, and is currently issued by the Central Bank of the Republic of China.
The first new dollar was issued on June 15, 1949 to replace the old Taiwanese dollar with an exchange rate of $ 40,000 for 1 new dollar. The main goal of this new dollar was to end the hyperinflation suffered by Taiwan and China during the Chinese Civil War. A few months later, the government of the Republic of China under the Kuomintang was defeated by the Chinese communists and retreated to Taiwan.
Although the Taiwan dollar was a de facto currency, for years the old Chinese yuan remained the official currency of the Republic of China. This yuan was a fiduciary currency, although it was detached from the value of silver during World War II, in fact, many of the old statutes of the Republic of China have in their content denominations with yuan.
According to the regulation on the exchange rate between new Taiwanese dollars and the fiduciary currency in the Republic of China, the exchange rate was set at 3 TWD per 1 yuan of silver and was never changed. Although the silver yuan was the main currency of legal tender, it was impossible to buy, sell or use it, so it did not exist in front of the public.
Currently coins of ½, 1, 5, 10, 20, 50 dollars and 100, 200, 500, 1,000, 2,000 dollars are circulating.
Date of issue:
Central Bank of the Republic of China
|Global Exchange||Your high-street bank|
|Variety of currencies||We have more than 60 currencies. We are specialists.||Only major currencies. Travel money is just a secondary business for banks.|
|Availability of currencies||Immediate availability of currencies in our branches. Click and collect.||If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can have the money on your hands.|
|Expenses||We only charge the exchange rate, without commissions. If you book online you have the best price.||The bank sets its own margin plus a commission.|
|Different denominations available||At Global Exchange, you’ll get a variety of banknotes with different denominations, adapted to all your payment needs.||No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes abroad.|
|Delivery options||Order online to benefit from a price reduction and collect at the airport.||You will have to visit your bank twice: once to order your currency and wait for it to come. The second visit to collect it. |