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The New Taiwan dollar has been the currency of the island of Taiwan since 1949, when it replaced the old Taiwan dollar, at a rate of 40,000 old dollars per one new dollar. [1] The base unit of the New Taiwan dollar is called a yuan (圓), subdivided into ten chiao (角) or 100 fen (分), although in practice neither chiao nor fen are used.
The Old Taiwan dollar was in use from 1946 to 1949, beginning shortly after Taiwan's handover from Japan to the Republic of China. The currency was issued by the Bank of Taiwan . Hyperinflation prompted the introduction of the New Taiwan dollar in June 1949, shortly before the Nationalist evacuation from mainland China in December.
Banknotes of New Taiwan dollar printed by the plant are NT$100 note, NT$200 note, NT$500 note, NT$1000 note and NT$2000 note. It also prints certificates such as the Republic of China passports, Exit & Entry Permits, visas, National Identification Cards, land title certificates, diplomas, marriage and divorce certificates, postage stamps, shopping vouchers, postal gift coupons, wine labels ...
A new yuan was introduced in 1955 at a rate of 10,000 old yuan = 1 new yuan, known as the renminbi yuan. It is the currency of the People's Republic of China to this day. The term yuan is also used in Taiwan. In 1946, a new currency was introduced for circulation there, replacing the Japanese issued Taiwan yen, the Old Taiwan dollar. It was not ...
The Taiwanese yen (Japanese: 圓, Hepburn: en) was the currency of Japanese Taiwan from 1895 to 1946. It was on a par with and circulated alongside the Japanese yen. The yen was subdivided into 100 sen (錢). It was replaced by the Old Taiwan dollar in 1946, which in turn was replaced by the New Taiwan dollar in 1949.
Currency of Taiwan can refer to any of the following: Taiwanese yen issued by the colonial government of Taiwan under Japanese rule from 1895 to 1945; Old Taiwan dollar used from 1946 to 1949; New Taiwan dollar the currency of Taiwan since 1949.
1949 (in Taipei) Ownership: Executive Yuan of the Central Government of the ROC [1] Governor: Yang Chin-long: Central bank of Republic of China (Taiwan) Currency: New Taiwan Dollar TWD Bank rate: 2.0% (13 June 2024) [2] Succeeded by: People's Bank of China (on the mainland) Website: cbc.gov.tw (in English)
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