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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.
For the first time, the Central Bank of the Republic of China began the issuing authority of the banknotes directly, rather than the Bank of Taiwan. [1] This series also ends a four-decade tradition of including Chiang Kai-shek in most of the banknotes of higher denominations except for the NT$ 200 issue, [ 2 ] opting for the more "modern" themes.
New Taiwan dollar = 40 000 old dollars: 1949 "new" is an official designation and is still used in official documents today. Argentine austral = 1 000 Peso argentino: 1985 completely new name Yugoslav 1993 dinar = 1 million 1992 dinara 1993 no official designation Brazilian real = 2 750 cruzeiros reais: 1994 recycled unit of Brazil before 1942
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.
The New Taiwan dollar issued by the Central Bank of the Republic of China (Taiwan) is legal tender for all payments within the territory of the Republic of China, Taiwan. [36] However, since 2007, [37] candidates to become civil servants in elections in the Republic of China may no longer pay any deposit in coinage. [38]
The Chinese character 圓 is also used to denote the base unit of the Hong Kong dollar, the Macanese pataca, and the New Taiwan dollar. The unit of a New Taiwan dollar is also referred to in Standard Chinese as yuán and written as 元 or 圓. The names of the Korean and Japanese currency units, won and yen respectively, are cognates of ...
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.
Taiwan: June 1999 Taiwan issued its first polymer banknote (NT$50) to commemorate 50 years of the New Taiwan dollar's issuance. [31] Romania: August 1999 In celebration of the total solar eclipse of August 11, 1999, the National Bank of Romania (BNR) decided to issue a commemorative two thousand Romanian lei banknote.