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New Taiwan dollars

New Taiwan dollar
or  (Taiwanese Mandarin)
TWD100f.jpg TWD1.JPG
NT$100 banknote obverse (1999 series) NT$1 coin
ISO 4217
Code TWD
Number 901
Exponent 2
Denominations
Subunit
110
jiǎo
1100 cent (, fēn)
Subunits used only in stocks and currencies, and rarely referred to in such cases.
Plural dollars (English only)
cent (, fēn) cents (English only)
Symbol $ or NT$
Nickname kuài ()
máo ()
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)  Republic of China (Taiwan area)
Issuance
Central bank Central Bank of the Republic of China (Taiwan)
 Website www.cbc.gov.tw
Printer China Engraving and Printing Works
 Website www.cepp.gov.tw
Mint Central Mint
 Website www.cmc.gov.tw
Valuation
Inflation 1.24%
 Source [1], May 2016
 Method CPI
New Taiwan dollar
Taiwan 100 nt.jpg
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 It was taken out of circulation on July 1, 2002, as it had been replaced by a new NT$100 note on July 2, 2001 issued by the Central Bank.
Traditional Chinese 新臺幣 or 新台幣
Simplified Chinese 新台币
Alternative Chinese name
Chinese 新臺票

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.

In Chinese, the "New" is only added in formal contexts where it is necessary to avoid any ambiguity, even though ambiguity is virtually non-existent today. These contexts include banking, contracts, or foreign exchange. The unit name in Chinese is yuán. In Taiwan, the character for yuan can be written in either of two forms: or , which are interchangeable. Colloquial alternatives for the currency unit include the Mandarin kuài (), meaning "piece", and the Taiwanese Hokkien kho͘ (; 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. Nevertheless, banks do record cents (hundredth 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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Wikipedia

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