Taiwan Dollar
Currency

Overview

Taiwan dollar in the Asian continent is an important dollar denominated currency. It is the official currency of the Republic of China and this also includes islands such as Taiwan, Matsu, Penghu and Kinmen.

The New Taiwan dollar is the official Taiwan currency and was introduced in 1949, though Republic of China adopted it recently in 2000. Taiwan dollar in local languages is called "yuan" and is informally denoted with a sign and in Chinese numerals. The daily transactions of the Taiwan dollar is abbreviated as "NT$".

The subunits are ‘Jiao’ and ‘cent’ of the Taiwan dollar and is the 1/10 value of one unit, while 1/100th value of one unit is the latter one. The New Taiwan dollar has TWD as the currency code and 901 as the numeric code as per ISO 4217 regulations.

Current market value

New Taiwan dollar has been recently adopted in the year 2000 as the Republic of China national currency, though it served Taiwan since 1949 as the national currency. The Republic of China economy has flourished after the Chinese civil war and industrialization in this country is considered as "Taiwan Miracle".

The economic profile of the country proposes Taiwan as dynamic, capitalist economy driven by exports. Taiwan is one among the "Four Asian Tigers" showing potential namely, Singapore, Hong Kong and South Korea. However, this has been achieved with the assistance of the Unites States of America.

Moreover, the Republic of China government fled to Taiwan with gold reserves and best businesses from the Mainland China helping in controlling the hyperinflation of the country. New Taiwan dollar is doing really well recently and is growing strong against the US dollar.

Taiwan is dependent on exports and the inflation in oil prices is a crucial threat, but the currency has balanced the oil price inflation effects till now.

Coins & banknotes

Central Bank of China performs the issue and flow of currency. The coins have important people images embossed and on the back side the values are depicted with symbolic images.

The banknotes come in different color sizes and schemes assisting in differentiating such as NT$100 is red, NT$200 green, NT$500 dark brown, NT$1000 blue and NT$2000 purple. These notes have portrait images on both sides.