NT Taiwan Dollar Guide: Everything You Need to Know

The NT Taiwan Dollar is the official currency of Taiwan, and it's used by over 23 million people. It's a widely accepted and stable currency.

The NT Taiwan Dollar is pegged to the US Dollar, which means its value is tied to the value of the US Dollar. This helps maintain economic stability.

In Taiwan, you can exchange your money for NT Taiwan Dollars at currency exchange offices, banks, and some hotels. Credit cards are also widely accepted.

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The New Taiwan dollar is the official currency of Taiwan, with the official name being 新台幣 (Xīntáibì) in Chinese.

You can refer to the currency as NT$, TWD, or simply $ in front of the amount, or use the Chinese character 元 (yuán) following the amount.

Prices are often displayed as NT$30, or 30元, and the informal way to describe amounts of money is by using the word kuài (塊).

NT dollar bills are most commonly denominated in NT$100, NT$500, and NT$1000, while hard coin currency is denominated in NT$50, NT$10, NT$5, and NT$1.

It's very rare to encounter NT$200 and NT$2000 bills in circulation.

Using an ATM card to withdraw cash at the MRT or convenience stores is a convenient way to get cash, and you can also exchange foreign currency at most banks and select department stores in Taipei City.

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The New Taiwan dollar is divided into smaller units, including jiǎo (角) and fēn (分). One jiǎo is equivalent to 10 cents, and one fēn is equivalent to 1 cent.

You'll rarely see jiǎo and fēn used in everyday life, but it's good to know the basics. The coins you'll typically use are NT$1, 5, 10, and 50.

Here are the common banknotes you'll encounter in Taiwan: DenominationValueNT$100100 New Taiwan dollarsNT$500500 New Taiwan dollarsNT$10001000 New Taiwan dollars

Note that the NT$200 banknote is less common, and the NT$2000 banknote is even rarer, worth around USD60.

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Coins are minted by the Central Mint, which is run by the Central Bank. The Central Mint is responsible for producing all the coins in circulation, including the NT$0.5, NT$1, NT$5, NT$10, NT$20, and NT$50 coins.

The 50¢ coin is a rare coin due to its low value, and as of 2010, the cost of the raw materials in a 50¢ coin was more than the face value of the coin. This makes it a unique and interesting piece of currency.

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The NT$20 coin is also a rare coin due to the government's lack of willingness to promote it. It's bi-metallic, with an aluminium bronze ring and a cupronickel center.

Here are the details of each coin:

The current series of banknotes for the New Taiwan dollar began circulation in July 2000, succeeding the silver yuan as the official currency within Taiwan.

The current set includes banknotes for NT$100, NT$200, NT$500, NT$1,000, and NT$2,000. However, the NT$200 and NT$2,000 banknotes are not commonly used by consumers, likely due to the tendency of using multiple lower denomination bills or credit/debit cards instead.

The NT$100 banknote features Sun Yat-sen and the Mei flower, with a red main color and dimensions of 145 × 70 mm. It was introduced in 2000 and officially taken out of circulation on August 1, 2007.

The NT$500 banknote has a brown main color and features a youth baseball theme, with a bamboo and numeral 500 design. It was introduced in 2000 and updated in 2004 to include a holographic strip.

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The NT$1,000 banknote features an elementary education theme, with a blue main color and a chrysanthemum and numeral 1000 design. It was introduced in 1999 and updated in 2004 to include a holographic strip.

The NT$2,000 banknote has a purple main color and features the FORMOSAT-1, technology theme, with a pine and numeral 2000 design. It was introduced in 2001 and is relatively rare due to its high value.

Here's a summary of the current banknotes:

The New Taiwan dollar, also known as the NT dollar, has a rich history that dates back to 1949.

It was introduced after the Chinese Civil War, replacing the old Taiwan dollar.

The NT dollar was pegged to the US dollar at a fixed exchange rate of 38.5 NT dollars per US dollar.

This peg was maintained until 1971, when the US abandoned the gold standard.

The NT dollar has since been managed by the Central Bank of the Republic of China, which has maintained a stable exchange rate with the US dollar.

The NT dollar is subdivided into 100 cents, with coins and banknotes issued in various denominations.

The NT dollar has undergone several redesigns over the years, with new banknotes and coins being introduced to improve security features and accessibility.

The New Taiwan dollar is widely accepted as a form of currency in Taiwan.

You can exchange your money for New Taiwan dollars at various currency exchange centers or banks. The exchange rate for 1 USD is 32 TWD, according to the latest available data.

To give you a better idea of the exchange rates, here's a table showing the conversion rates for some common currencies:

If you're planning to visit Taiwan, it's a good idea to have some local currency with you.