New Taiwan dollar
| New Taiwan dollar | |||||
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| or (Taiwanese Mandarin) | |||||
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| ISO 4217 | |||||
| Code | TWD | ||||
| Number | 901 | ||||
| Exponent | 2 | ||||
| Denominations | |||||
| Subunit | |||||
| 1⁄10 |
角 jiǎo |
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| 1⁄100 |
cent (分, fēn) Subunits used only in stocks and currencies, and rarely referred to in such cases. |
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| Plural | dollars (English only) | ||||
| cent (分, fēn) | cents (English only) | ||||
| Symbol | $ or NT$ | ||||
| Nickname | kuài (塊) | ||||
| 角 | máo (毛) | ||||
| Banknotes | |||||
| Freq. used | $100, $500, $1000 | ||||
| Rarely used | $200, $2000 | ||||
| Coins | |||||
| Freq. used | $1, $5, $10, $50 | ||||
| Rarely used | $20 | ||||
| Demographics | |||||
| Date of introduction | June 15, 1949 | ||||
| Replaced | Old Taiwan dollar | ||||
| User(s) | Template:Country data ROC(Taiwan) | ||||
| Issuance | |||||
| Central bank | Central Bank of the Republic of China (Taiwan) | ||||
| Website | www |
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| Printer | China Engraving and Printing Works | ||||
| Website | www |
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| Mint | Central Mint | ||||
| Website | www |
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| Valuation | |||||
| Inflation | 1.24% | ||||
| Source | [1], May 2016 | ||||
| Method | CPI | ||||
| New Taiwan dollar | |||||||||||||||||||
A NT$100 note issued by the 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 It was taken out of circulation on July 1, 2002, as it had been replaced by a new NT$100 note on July 2, 2001 issued by the Central Bank.
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| Traditional Chinese | 新臺幣 or 新台幣 | ||||||||||||||||||
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| Simplified Chinese | 新台币 | ||||||||||||||||||
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| Alternative Chinese name | |||||||||||||||||||
| Chinese | 新臺票 | ||||||||||||||||||
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| Transcriptions | |
|---|---|
| Standard Mandarin | |
| Hanyu Pinyin | Xīntáibì |
| Wade–Giles | Hsint'aipi |
| Yue: Cantonese | |
| Yale Romanization | Sāntòihbaih |
| Jyutping | san1toi4bai6 |
| Southern Min | |
| Hokkien POJ | Sin-tâi-pè |
| Transcriptions | |
|---|---|
| Yue: Cantonese | |
| Yale Romanization | Sāntòihpiu |
| Southern Min | |
| Hokkien POJ | Sin-tâi-phiò |
The New Taiwan dollar has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000. The currency code is TWD, and its common abbreviation is NT$.
The Chinese term equivalent to "New Taiwan dollar", or , is used only in contexts where it is necessary to avoid any ambiguity, such as banking, contracts, or foreign exchange. In common usage, the unit is typically referred to as yuán. In Taiwan, the character for yuan can be written in either of two forms, an informal 元 or a formal 圓, which are interchangeable. Colloquial alternatives for the currency unit include the Mandarin kuài (塊), meaning "piece", and the Taiwanese Hokkien 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 sold in 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 ratio of 40,000 to one. The first goal of the New Taiwan dollar was to end the hyperinflation that had plagued Nationalist China due to the Chinese Civil War.
After the communists captured Beijing in January 1949, the Nationalists began to retreat to Taiwan. China's gold reserve was moved to Taiwan in February. The government then declared in the Temporary Provisions Effective During the Period of Communist Rebellion that dollars issued by the Bank of Taiwan would become the new currency in circulation.
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