New Taiwan dollar

Last updated

New Taiwan dollar
新臺幣 [I]
ISO 4217
CodeTWD (numeric:901)
Subunit 0.01
Unit
Unit yuan ()
PluralThe language(s) of this currency do(es) not have a morphological plural distinction.
Symbol NT$, , $
Nickname Mandarin: (yuán), (kuài)
Hokkien: (kho͘ )
Hakka: (ngiùn)
Denominations
Subunit
110Jiǎo ()
1100Fēn ()
Subunits used only in stocks and currency transactions, and are rarely referred to
Nickname
Jiǎo () Mandarin: (máo)
Hokkien: (kak)
Hakka: (kok)
Fēn () Hokkien: (sian)
Hakka: (siên)
Banknotes
Freq. usedNT$100, NT$500, NT$1000
Rarely usedNT$200, NT$2000
Coins
Freq. usedNT$1, NT$5, NT$10, NT$50
Rarely used12¢, 1¢, 2¢, 5¢, 10¢, 20¢, 50¢, NT$20
Demographics
Date of introduction15 June 1949
Replaced Old Taiwan dollar
User(s)Flag of the Republic of China.svg  Republic of China
Issuance
Central bank Central Bank of the Republic of China (Taiwan)
Website www.cbc.gov.tw
Printer Central Engraving and Printing Plant
Website www.cepp.gov.tw
Mint Central Mint
Website www.cmc.gov.tw
Valuation
Inflation 0.85%
Source 2008–2018
Method CPI 10-year average
New Taiwan dollar
Traditional Chinese 新臺幣
Simplified Chinese 新台币
Transcriptions
Standard Mandarin
Hanyu Pinyin Xīntáibì
Wade–Giles Hsin1-t'ai2-pi4
Hakka
Pha̍k-fa-sṳ Sîn-thòi-pi
Yue: Cantonese
Yale Romanization Sāntòihbaih
Jyutping san1 toi4 bai6
Southern Min
Hokkien POJ Sin-tâi-pè
Most traded currencies by value
Currency distribution of global foreign exchange market turnover [14]
Currency ISO 4217
code
Symbol or
Abbrev. [15]
Proportion of daily volumeChange
(2019–2022)
April 2019April 2022
U.S. dollar USD$, US$88.3%88.5%Increase2.svg 0.2pp
Euro EUR32.3%30.5%Decrease2.svg 1.8pp
Japanese yen JPY¥, 16.8%16.7%Decrease2.svg 0.1pp
Sterling GBP£12.8%12.9%Increase2.svg 0.1pp
Renminbi CNY¥, 4.3%7.0%Increase2.svg 2.7pp
Australian dollar AUD$, $A6.8%6.4%Decrease2.svg 0.4pp
Canadian dollar CAD$, Can$5.0%6.2%Increase2.svg 1.2pp
Swiss franc CHFFr., fr.4.9%5.2%Increase2.svg 0.3pp
Hong Kong dollar HKD$, HK$, 3.5%2.6%Decrease2.svg 0.9pp
Singapore dollar SGD$, S$1.8%2.4%Increase2.svg 0.6pp
Swedish krona SEKkr, Skr2.0%2.2%Increase2.svg 0.2pp
South Korean won KRW₩, 2.0%1.9%Decrease2.svg 0.1pp
Norwegian krone NOKkr, Nkr1.8%1.7%Decrease2.svg 0.1pp
New Zealand dollar NZD$, $NZ2.1%1.7%Decrease2.svg 0.4pp
Indian rupee INR1.7%1.6%Decrease2.svg 0.1pp
Mexican peso MXN$, Mex$1.7%1.5%Decrease2.svg 0.2pp
New Taiwan dollar TWD$‎, NT$, 0.9%1.1%Increase2.svg 0.2pp
South African rand ZARR1.1%1.0%Decrease2.svg 0.1pp
Brazilian real BRLR$1.1%0.9%Decrease2.svg 0.2pp
Danish krone DKKkr., DKr0.6%0.7%Increase2.svg 0.1pp
Polish złoty PLNzł‎, Zl0.6%0.7%Increase2.svg 0.1pp
Thai baht THB฿, B0.5%0.4%Decrease2.svg 0.1pp
Israeli new shekel ILS₪, NIS0.3%0.4%Increase2.svg 0.1pp
Indonesian rupiah IDRRp0.4%0.4%Steady2.svg
Czech koruna CZKKč, CZK0.4%0.4%Steady2.svg
UAE dirham AEDد.إ, Dh(s)0.2%0.4%Increase2.svg 0.2pp
Turkish lira TRY₺, TL1.1%0.4%Decrease2.svg 0.7pp
Hungarian forint HUFFt0.4%0.3%Decrease2.svg 0.1pp
Chilean peso CLP$, Ch$0.3%0.3%Steady2.svg
Saudi riyal SAR, SRl(s)0.2%0.2%Steady2.svg
Philippine peso PHP0.3%0.2%Decrease2.svg 0.1pp
Malaysian ringgit MYRRM0.2%0.2%Steady2.svg
Colombian peso COP$, Col$0.2%0.2%Steady2.svg
Russian ruble RUB₽, руб1.1%0.2%Decrease2.svg 0.9pp
Romanian leu RON—, leu0.1%0.1%Steady2.svg
Peruvian sol PENS/.0.1%0.1%Steady2.svg
Bahraini dinar BHD.د.ب, BD0.0%0.0%Steady2.svg
Bulgarian lev BGNлв., lv., lev0.0%0.0%Steady2.svg
Argentine peso ARS$, Arg$0.1%0.0%Decrease2.svg 0.1pp
Other currencies1.8%2.3%Increase2.svg 0.5pp
Total:200.0%200.0%



See also

Notes

    Words in different languages

    1. 1 2

    Related Research Articles

    <span class="mw-page-title-main">Japanese yen</span> Currency of Japan

    The yen is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar and the euro. It is also widely used as a third reserve currency after the US dollar and the euro.

    <span class="mw-page-title-main">Renminbi</span> Currency of China

    The renminbi, also known as the Chinese yuan, is the official currency of the People's Republic of China. The renminbi is issued by the People's Bank of China, the monetary authority of China. It is the world's fifth-most-traded currency as of April 2022.

    <span class="mw-page-title-main">Russian ruble</span> Currency of Russia

    The ruble or rouble is the currency of the Russian Federation. The ruble is subdivided into 100 kopecks. It is used in Russia as well as in the parts of Ukraine under Russian military occupation and in Russian-occupied parts of Georgia.

    <span class="mw-page-title-main">Legal tender</span> Medium of payment recognized by law

    Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.

    <span class="mw-page-title-main">North Korean won</span> Official currency of North Korea

    The Korean People's won, more commonly known as the North Korean won and sometimes known as the Democratic People's Republic of Korea won, is the official currency of North Korea. It is subdivided into 100 chon. The currency is issued by the Central Bank of the Democratic People's Republic of Korea, based in the North Korean capital city of Pyongyang.

    The Hong Kong dollar is the official currency of Hong Kong. It is subdivided into 100 cents. Historically, it was also subdivided into 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar.

    <span class="mw-page-title-main">Malaysian ringgit</span> Official currency of Malaysia

    The Malaysian ringgit is the currency of Malaysia. Issued by the Central Bank of Malaysia, it is divided into 100 cents.

    <span class="mw-page-title-main">Macanese pataca</span> Currency of Macau

    The Macanese pataca or Macau pataca is the currency of Macau. It is subdivided into 100 avos, with 10 avos called ho (毫) in Cantonese.

    <span class="mw-page-title-main">Ukrainian hryvnia</span> Currency of Ukraine

    The hryvnia has been the national currency of Ukraine since 2 September 1996. The hryvnia is divided into 100 kopiyok. It is named after a measure of weight used in Kievan Rus'.

    <span class="mw-page-title-main">Dominican peso</span> Currency of the Dominican Republic

    The Dominican peso, officially the peso dominicano since 2010, is the currency of the Dominican Republic. Its symbol is "$", with "RD$" used when distinction from other pesos is required; its ISO 4217 code is "DOP". Each peso is divided into 100 centavos ("cents"), for which the ¢ symbol is used. With exception of the United States dollar, it is the only currency that is legal tender in the Dominican Republic for all monetary transactions, whether public or private.

    <span class="mw-page-title-main">Taiwanese yen</span>

    The Taiwanese yen was the currency of Japanese Taiwan from 1895 to 1946. It was on a par with and circulated alongside the Japanese yen. The yen was subdivided into 100 sen (錢). It was replaced by the Old Taiwan dollar in 1946, which in turn was replaced by the New Taiwan dollar in 1949.

    <span class="mw-page-title-main">Manchukuo yuan</span> Currency of the Empire of Manchuria

    The Manchukuo yuan was the official unit of currency of the Empire of Manchuria, from June 1932 to August 1945.

    <span class="mw-page-title-main">History of Chinese currency</span>

    The history of Chinese currency spans more than 3000 years. Currency of some type has been used in China since the Neolithic age which can be traced back to between 3000 and 4500 years ago. Cowry shells are believed to have been the earliest form of currency used in Central China, and were used during the Neolithic period.

    The yuan is the base unit of a number of former and present-day currencies throughout China.

    The Old Taiwan dollar was in use from 1946 to 1949, beginning shortly after Taiwan's handover from Japan to the Republic of China. The currency was issued by the Bank of Taiwan. Hyperinflation prompted the introduction of the New Taiwan dollar in June 1949, shortly before the Nationalist evacuation from mainland China in December.

    <span class="mw-page-title-main">Chinese customs gold unit</span> Former currency of China

    The customs gold unit (CGU) was a currency issued by the Central Bank of China between 1930 and 1948. In Chinese, the name of the currency was 關金圓 but the English name given on the back of the notes was "customs gold unit". It was divided into 100 cents (關金分). As the name suggests, this currency was initially used for customs payments, but in 1942 it was put into general circulation for use by the public at 20 times its face value in terms of the first Chinese yuan.

    Japanese currency has a history covering the period from the 8th century CE to the present. After the traditional usage of rice as a currency medium, Japan adopted currency systems and designs from China before developing a separate system of its own.

    The fifth series of the new Taiwan dollar banknotes is the current and latest series to be issued for circulation in the Republic of China (Taiwan). It was first introduced by the Central Bank of the Republic of China (Taiwan) on 3 July 2000.

    <span class="mw-page-title-main">Paper money of the Qing dynasty</span> Historical currency of China

    The paper money of the Qing dynasty was periodically used alongside a bimetallic coinage system of copper-alloy cash coins and silver sycees; paper money was used during different periods of Chinese history under the Qing dynasty, having acquired experiences from the prior Song, Jin, Yuan, and Ming dynasties which adopted paper money but where uncontrolled printing led to hyperinflation. During the youngest days of the Qing dynasty paper money was used but this was quickly abolished as the government sought not to repeat history for a fourth time; however, under the reign of the Xianfeng Emperor, due to several large wars and rebellions, the Qing government was forced to issue paper money again.

    <span class="mw-page-title-main">Chinese gold yuan</span>

    The Chinese gold yuan was a legal tender currency of China between August 1948 and 1949. It was a method used by the Republic of China government to accumulate gold from its citizens in preparation to relocate to Taiwan. It circulated in the country under the effective control of the Government of the Republic of China, which issued paper money on August 19, 1948. This currency was notorious for vicious inflation due to inadequate issuance preparation and failure to strictly enforce issuance limits. In the early days of the issuance of the Golden yuan, the government used executive actions to force the public to exchange gold, foreign currency for the new currency. The legal exchange rate was 0.22217 grams of gold per gold yuan but it could not be honored. The sharply depreciating Fabi currency was at the rate of one golden yuan of the yen to 3 million fabi yuan, and this rate was used for the compulsory collection of public gold, silver, and foreign currency. In particular, the economic losses suffered by the urban middle class were so great that the ROC government lost its original most important supporters and was one of the reasons why the ROC government failed so quickly in the Chinese Civil War.

    References

    1. Chuang, Chi-ting (17 February 2001). "Legislator pans new bank notes". Taipei Times. p. 4.
    2. Han Cheung (9 June 2024). "Taiwan in Time: How the New Taiwan dollar became the national currency". Taipei Times. Retrieved 16 June 2024.
    3. 1 2 Chuang, Chi-ting (17 February 2001). "Legislator pans new bank notes". Taipei Times.
    4. "Regulation for the exchange rate between New Taiwan Dollars and the fiat currency in the laws of the Republic of China".
    5. "US Dollar / New Taiwan Dollar". Google Finance. Archived from the original on 1 July 2021. Retrieved 1 July 2021.
    6. "zhonghua minguo XX", "中華民國" is the also the state title "Republic of China", an era name of the Minguo calendar.
    7. 1 2 3 4 "中央銀行發行之貨幣及真偽鈔辨識". Archived from the original on 17 December 2008. Retrieved 30 January 2015. 中央銀行發行之貨幣及偵偽鈔辨識
    8. Mona Rudao, anti-Japanese leader of the Wushe Incident.
    9. 郭文平 (25 April 2007). 新版50元硬幣 明發行 (in Chinese). 自由時報. Retrieved 26 November 2007.[ dead link ]
    10. Commons:Category:Taiwan $1000 banknote 1999 edition
    11. Taiwan's 1999 $1000 bill globe reversed
    12. 劉姿麟、蔣紀威 (31 July 2007). 8/1新制/健保費漲價 金融機構舊鈔換新鈔延至9月底 (in Chinese). ETToday. Retrieved 20 August 2007.
    13. The Central Bank of the Republic of China (Taiwan) (6 January 2011). "Issue a commemorative NT$100 banknote for circulation and uncut commemorative NT$100 currency sheets in celebration of the 100th anniversary of the founding of the Republic of China on January 6, 2011".
    14. Triennial Central Bank Survey Foreign exchange turnover in April 2022 (PDF) (Report). Bank for International Settlements. 27 October 2022. p. 12. Archived (PDF) from the original on 27 October 2022.
    15. "Currency Units". Editorial Style Guide (PDF). World Bank Publications. p. 134–139.
    Preceded by:
    Old Taiwan dollar
    Reason: inflation
    Ratio: 1 new dollar = 40,000 old dollars
    Currency of Taiwan
    1949
    Note: After the communists took over most of Mainland China, the government of the Republic of China controlled only Taiwan and some offshore islands.
    Succeeded by:
    Current