- New Taiwan dollar
New Taiwan dollar 新臺幣 / 新台幣 (Chinese) NT$2000 NT$50 ISO 4217 code TWD User(s) Republic of China (Taiwan) Inflation 2.34%,3.7% (CIA World Factbook, 2008 est.) Source Central Bank of the Republic of China, Jul-Dec 2007 Method CPI Subunit 1/10 角
Jiao, but no official translation
1/100 cent (分, Fen)
Subunits used only in stocks and currencies
Symbol $ or NT$ Nickname kuài (塊) 角 máo (毛) Plural dollars (English only) cent (分, Fen) cents (English only) Coins Freq. used $1, $5, $10, $50 Rarely used $20 Banknotes Freq. used $100, $500, $1000 Rarely used $200, $2000 Central bank Central Bank of the Republic of China Website www.cbc.gov.tw Printer China Engraving and Printing Works Website www.cepp.gov.tw Mint Central Mint of China Website www.cmc.gov.tw New Taiwan dollar A NT$100 note issued by Bank of Taiwan in February 1988. It was taken out of circulation on July 1, 2002, as it had been replaced by a new NT$100 note on July 2, 2001 issued by the Central Bank of the Republic of China. Traditional Chinese 新臺幣 or 新台幣 Simplified Chinese 新台币 Transcriptions Mandarin - Hanyu Pinyin Xīntáibì - Tongyong Pinyin Sīntáibì - Wade–Giles Hsint'aipi Min - Hokkien POJ Sin-tâi-pè Cantonese (Yue) - Jyutping Santoibai - Yale Romanization Syin1tai2bi4
The New Taiwan dollar (traditional Chinese: 新臺幣 or 新台幣; simplified Chinese: 新台币; Tongyong Pinyin: Sīntáibì; Hanyu Pinyin: Xīntáibì) (currency code TWD and common abbreviation NT$), or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China (ROC) since 1949, when it replaced the Old Taiwan dollar. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000.
The Chinese term for "New Taiwan Dollar" (新臺幣 or 新台幣, literally "New Taiwan Currency") typically is only used for banking and in legal contracts where it is necessary to avoid any possible ambiguity, or when talking about foreign exchange or other currencies.
In common usage, the dollar unit is typically referred to as yuán. In Taiwan, the character for yuán can be written in either of two forms, an informal 元 or a formal 圓, both of which are interchangeable. Mandarin speakers also use kuài. Kuài is written 塊 and is an abbreviation for 塊錢 (kuài qián), which literally means "piece of money". In the context of discussing prices, 錢 can be omitted. In general, yuán is more commonly used when writing and kuài is more commonly used when speaking.
Taiwanese speakers may also use the word kho͘ (箍 ; literally "circle").
In English usage the New Taiwan Dollar is often abbreviated as NT, NT$, NT Dollar or NTD, while the abbreviation TWD is typically used in the context of foreign exchange rates. Subdivisions of a New Taiwan Dollar are rarely used, since practically all products on the consumer market are being sold at whole dollars.
The New Taiwan dollar was first issued by the Bank of Taiwan on June 15, 1949, to replace the Old Taiwan dollar at a 40,000-to-1 ratio. The first goal of the New Taiwan dollar was to end the hyperinflation that had plagued Taiwan and Mainland China due to the Chinese civil war fought in mainland China. A few months later, the ROC government under the Kuomintang (KMT) was defeated by the Chinese communists and retreated to Taiwan.
Even though the Taiwan dollar was the de facto currency of Taiwan, for years the old Chinese Nationalist yuan was still the official national currency of the Republic of China. The Chinese Nationalist yuan was also known as the fiat currency (法幣) or the silver yuán (銀元), even though it was decoupled from the value of silver during World War II. Many older statutes in ROC law have fines and fees denominated in this currency.
According to the Regulation of exchange rate between New Taiwan Dollars and the fiat currency in the ROC laws (現行法規所定貨幣單位折算新臺幣條例), the exchange rate is fixed at 3 TWD per 1 silver yuan and has never been changed despite decades of inflation. Despite the silver yuan being the primary legal tender currency, it was impossible to buy, sell, or use it, so it effectively did not exist to the public.
In July 2000, the New Taiwan dollar became the official currency of the ROC and is no longer secondary to the silver yuan. At the same time, the Central Bank of China (now known as the Central Bank of the Republic of China) began issuing New Taiwan dollar banknotes directly and the old notes issued by the Bank of Taiwan were taken out of circulation.
In the history of the currency, the exchange rate as compared to the United States dollar (USD) has varied from less than 10 TWD per USD in the mid-1950s to more than 40 TWD per 1 USD in the 1960s and about 25 TWD per 1 USD around 1992. The exchange rate as of October 26, 2011 sits around 30.105 TWD per 1 USD.
The denominations of the Taiwan dollar in circulation are
Currently Circulating Coins Image Value Technical parameters Description Date of Diameter Weight Composition Obverse Reverse first minting issue NT$½ 18 mm 3 g 97 % copper
Mei Blossom, "中華民國XX年"1 Value 1981
(Minguo year 70)
December 8, 1981 NT$1 20 mm 3.8 g 92% copper
Chiang Kai-shek, "中華民國XX年" December 8, 1981 NT$5 22 mm 4.4 g Cupronickel
Chiang Kai-shek, "中華民國XX年" Value 1981
(Minguo year 70)
December 8, 1981 NT$10 26 mm 7.5 g December 8, 1981 NT$20 26.85 mm 8.5 g Ring: Aluminium bronze (as $50)
Center: Cupronickel (as $10)
Mona Rudao, "莫那魯道"2, "中華民國XX年" Traditional canoes used by the Tao people 2001
(Minguo year 90)
July 9, 2001 NT$50 28 mm 10 g Aluminium bronze
Sun Yat-sen, "中華民國XX年" Latent images of both Chinese and Arabic numerals for 50 2002
(Minguo year 91)
April 26, 2002 These images are to scale at 2.5 pixels per millimeter. For table standards, see the coin specification table.
Coins are minted by the Central Mint of China, while notes are printed by the China Engraving and Printing Works. Both are run by the Central Bank of the Republic of China. The NT$½ coin is rare because of its low value, while the NT$20 coin is rare because of the government's lack of willingness to promote it. As of 2010, the cost of the raw materials in a NT$½ coin is worth more than the face value of the coin.
- "中華民國XX年" = "Minguo XX". "中華民國" is also the state title "Republic of China".
- "莫那魯道" = "Mona Rudao", anti-Japanese leader at the Wushe Incident.
The current series of banknotes for the New Taiwan Dollar began circulation in July 2000. This set was introduced when the New Taiwan Dollar succeeded the silver yuan as the official currency within the Republic of China.
The current set includes banknotes for NT$100, NT$200, NT$500, NT$1000, and NT$2000. Note that the NT$200 and NT$2000 banknotes are not commonly used by consumers. This may be due to the tendencies of consumers to simply use multiple NT$100 or NT$500 bills to cover the range of the NT$200, as well as using NT$1000 bills or credit/debit cards instead of the NT$2000 bill. Lack of government promotion may also be a contributing factor to the general lack of usage.
It is relatively easy for the government to disseminate these denominations through various government bodies that do official business with the citizens, such as the post office, the tax authority, or state owned banks. There is also a conspiracy theory against the Democratic Progressive Party, the ruling party at the time the two denominations were issued. The conspiracy states that putting Chiang Kai-shek on a rarely used banknote would "practically" remove him from the currency, while "nominally" including him on the currency would not upset supporters on the other side of the political spectrum that much (the Pan-Blue Coalition).
1999 Series Image Value Dimensions Main Color Description Date of Remark Obverse Reverse Watermark printing issue withdrawal NT$100 145 × 70 mm Red Sun Yat-sen, "The Chapter of Great Harmony" by Confucius Chung-Shan Building Mei flower and numeral 100 2000
July 2, 2001 NT$200 150 × 70 mm Green Chiang Kai-shek, theme of land reform and public education The Office of the President Orchid and numeral 200 2001
(Minguo year 90)
January 2, 2002 NT$500 155 × 70 mm Brown Youth baseball Formosan Sika Deer and Dabajian Mountain Bamboo and numeral 500 2000
(Minguo year 89)
December 15, 2000 August 1, 2007 without holographic strip Dark brown 2004
July 20, 2005 with holographic strip NT$1000 160 × 70 mm Blue Elementary Education (errors) Mikado Pheasant and Yushan (Jade Mountain) Chrysanthemum and numeral 1000 1999
(Minguo year 88)
July 3, 2000 August 1, 2007 without holographic strip 2004
(Minguo year 93)
July 20, 2005 with holographic strip NT$2000 165 × 70 mm Purple FORMOSAT-1, technology Formosan landlocked salmon and Nanhu Mountain Pine and numeral 2000 2001
(Minguo year 90)
July 1, 2002 These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.
The year 2000 version $500 and 1999 version $1000 notes without holographic strip were officially taken out of circulation on August 1, 2007. They were redeemable at commercial banks until September 30, 2007. As of October 1, 2007, only the Bank of Taiwan accepts such notes.
Taiwan 100-dollar commemorative note
On 6 January 2011, the Central Bank of the Republic of China issued a new 100-dollar legal tender circulating commemorative in celebration of the 100th anniversary of the founding of the Republic of China. The red paper note measures 145 × 70 mm and features a portrait of Dr. Sun Yat-Sen on the front, and the Chung-Shan Building on the back. The design is no different from the ordinary NT$100 note, except for the wording in Chinese language in the reverse of the note, which reads: “Celebrating the 100 years of founding of the Republic of China.”
Current TWD exchange rates From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY TRY From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD CNY TRY From OzForex: AUD CAD CHF EUR GBP HKD JPY USD CNY TRY From XE.com: AUD CAD CHF EUR GBP HKD JPY USD CNY TRY From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD CNY TRY
- History of the Republic of China
- Economy of the Republic of China
- ^ a b c d http://www.cbc.gov.tw/issue/money/tb1.htm 中央銀行發行之貨幣及偵偽鈔辨識
- ^ "20元新硬幣亮相！" (in Chinese). 大紀元. 2001-07-05. http://www.epochtimes.com/b5/1/7/5/n106577.htm. Retrieved 2006-11-26.
- ^ 郭文平 (2002-04-25). "新版50元硬幣 明發行" (in Chinese). 自由時報. http://www.libertytimes.com.tw/2002/new/apl/25/today-c4.htm. Retrieved 2006-11-26.
- ^ Commons:Category:Taiwan $1000 banknote 1999 edition
- ^ Taiwan's 1999 $1000 bill globe reversed
- ^ 劉姿麟、蔣紀威 (2007-07-31). "8/1新制∕健保費漲價 金融機構舊鈔換新鈔延至9月底" (in Chinese). ETToday. http://www.ettoday.com/2007/07/31/320-2134376.htm. Retrieved 2007-08-20.
- ^ THE CENTRAL BANK OF THE REPUBLIC OF CHINA (TAIWAN) (2011-01-06). "Issue a commemorative NT$100 banknote for circulation and uncut commemorative NT$100 currency sheets in celebration of the 100th anniversary of the founding of the Republic of China on January 6, 2011" (in English). http://www.cbc.gov.tw/ct.asp?xItem=37761&ctNode=752&mp=2.
- (Chinese) (English) SinoBanknote
- Virginia Sheng, "Notes from a Small Island", Taipei Review, September 1, 2000
- The Taiwanese hyperinflation and stabilization of 1945 - 1952
- Banknotes of Matsu, Quemoy and Tachen
- Close up image of a circulated 50 NT coin
- Chuang Chi-ting, "Legislator pans new bank notes", Taipei Times, February 17, 2001
- New NT$500 and NT$1000 banknotes introduced, anti-counterfeit measures taken  Taiwan News (online), July 20, 2005
Old Taiwan dollar
Ratio: 1 new dollar = 40,000 old dollars
Currency of Republic of China
Note: After the communists took over most of China, the ROC government controlled only Taiwan and some offshore islands.
Economy of Taiwan History Currency Banking and Finance Government agencies Research Energy RankingsInternational rankings of Republic of China (Taiwan) Industrial park Associations AgreementsEconomic Cooperation Framework Agreement Currencies of China Overview Ancient and medieval Near modern Republic of China Renminbi series Special administrative regions See also: Economy of the People's Republic of China
Economy of Taiwan
Currencies of Asia Central East North South Southeast WestAbkhazian apsar (unrecognized) · Afghan afghani · Armenian dram (Nagorno-Karabakh) · Azerbaijani manat · Bahraini dinar · Egyptian pound (Gaza Strip) · Euro (Cyprus) · Georgian lari · Iranian rial · Iraqi dinar · Israeli new shekel (Palestinian territories) · Jordanian dinar (West Bank) · Kuwaiti dinar · Lebanese pound · Nagorno-Karabakh dram (unrecognized) · Omani rial · Russian ruble (Abkhazia, South Ossetia) · Qatari riyal · Saudi riyal · Syrian pound · Turkish lira (Northern Cyprus) · UAE dirham · Yemeni rial Republic of China (Taiwan) topics Society Administration Culture Economy Geography History
Wikimedia Foundation. 2010.
Look at other dictionaries:
New Taiwan dollar — noun The currency of Taiwan … Wiktionary
Fifth series of the New Taiwan Dollar banknote — The fifth series of the New Taiwan Dollar banknotes is the current and latest series to be issued for circulation in the Republic of China (ROC). It was first introduced by the Central Bank of China on 3 July 2000.… … Wikipedia
New Zealand dollar — Tāra o Aotearoa (Māori) ISO 4217 code NZD User(s) New Zealand … Wikipedia
New Brunswick dollar — The dollar was the currency of New Brunswick between 1860 and 1867. It replaced the pound at a rate of 4 dollars = 1 pound (5 shillings = 1 dollar) and was equal to the Canadian dollar. The New Brunswick dollar was replaced by the Canadian dollar … Wikipedia
Taiwan-Dollar — Land: Republik China Unterteilung: 10 Jiao, 100 Fen ISO 4217 Code: TWD Abkürzung: NT$, NTD Wechselkurs: (13. Februar 2009) 1 … Deutsch Wikipedia
Taiwan Dollar — Land: Republik China Unterteilung: 10 Jiao, 100 Fen ISO 4217 Code: TWD Abkürzung: NT$, NTD Wechselkurs: (13. Februar 2009) 1 … Deutsch Wikipedia
Neuer Taiwan-Dollar — Taiwan Dollar Staat: Republik China Unterteilung: 10 Jiao, 100 Fen ISO 4217 Code: TWD Abkürzung: NT$, NTD Wechselkurs: (1. Nov 2011) 1 EUR = 41,286 TWD 100 TWD = 2,4221 EUR … Deutsch Wikipedia
Old Taiwan dollar — 舊臺幣 (Chinese) User(s) Taiwan (province of Republic of China) Symbol TW$ Coins None … Wikipedia
TWD (Taiwan Dollar) — The currency abbreviation for the Taiwan dollar (TWD), the currency for the Republic of China within Taiwan, Pescadores, Kinmnet and Matsu. The Taiwan dollar is made up of 10 jiao, and 100 fen, and is often presented with the symbol NT$. TWD is… … Investment dictionary
Dollar (disambiguation) — Dollar is a variety of currency units used in about two dozen countries. Dollar may refer to: Contents 1 Actual currency 2 Fictional currency 3 Other use 4 See also … Wikipedia