New Taiwan dollar
The new dollar is the legal currency of Taiwan. It is currently also circulating in the territories under Taiwanese sovereignty like the Pescadores, Kinmen, Matsu and Pratas Islands since 1949. It was originally issued by the Bank of Taiwan, and is currently issued by the Central Bank of the Republic of China.
The first new dollar was issued on June 15, 1949 to replace the old Taiwanese dollar with an exchange rate of $ 40,000 for 1 new dollar. The main goal of this new dollar was to end the hyperinflation suffered by Taiwan and China during the Chinese Civil War. A few months later, the government of the Republic of China under the Kuomintang was defeated by the Chinese communists and retreated to Taiwan.
Although the Taiwan dollar was a de facto currency, for years the old Chinese yuan remained the official currency of the Republic of China. This yuan was a fiduciary currency, although it was detached from the value of silver during World War II, in fact, many of the old statutes of the Republic of China have in their content denominations with yuan.
According to the regulation on the exchange rate between new Taiwanese dollars and the fiduciary currency in the Republic of China, the exchange rate was set at 3 TWD per 1 yuan of silver and was never changed. Although the silver yuan was the main currency of legal tender, it was impossible to buy, sell or use it, so it did not exist in front of the public.
Currently coins of ½, 1, 5, 10, 20, 50 dollars and 100, 200, 500, 1,000, 2,000 dollars are circulating.
Date of issue:
Central Bank of the Republic of China
|Globo Cambio||Other exchange houses|
|Variety of currencies||We have 54 currencies. We are specialists.||Only major currencies.|
|Availability of currencies||Immediate availability of currencies in our branches. Click and collect or walk in to our stores.||You risk not having enough stock.|
No, we do not charge any commissions for any exchange transaction, we only charge a trading margin.
We also offer the same price regardless of whether the banknote is high or low denomination.
|Sets its margin and and depending on the denomination of the banknotes, you pay different prices.|
|Different denominations available||At Global Exchange, you’ll get a variety of banknotes with different values, adapted to all your payment needs.||No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes.|