New Taiwan dollar

New Taiwan dollar

新臺幣[I]
ISO 4217
Code	TWD (numeric: 901)
Subunit	0.01
Unit
Unit	yuan (圓)
Plural	The language(s) of this currency do(es) not have a morphological plural distinction.
Symbol	NT$, 元, $‎
Nickname	Mandarin: 元 (yuán), 塊 (kuài) Hokkien: 箍 (kho͘ ) Hakka: 銀 (ngiùn)
Denominations
Subunit
1⁄10	Jiǎo (角)
1⁄100	Fēn (分) Subunits used only in stocks and currency transactions, and are rarely referred to
Nickname
Jiǎo (角)	Mandarin: 毛 (máo) Hokkien: 角 (kak) Hakka: 角 (kok)
Fēn (分)	Hokkien: 仙 (sian) Hakka: 仙 (siên)
Banknotes
Freq. used	NT$100, NT$500, NT$1000
Rarely used	NT$200, NT$2000
Coins
Freq. used	NT$1, NT$5, NT$10, NT$50
Rarely used	1⁄2¢, 1¢, 2¢, 5¢, 10¢, 20¢, 50¢, NT$20
Demographics
Date of introduction	15 June 1949
Replaced	Old Taiwan dollar
User(s)	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	[1] 2008–2018
Method	CPI 10-year average

The New Taiwan dollar^[I] (code: TWD; symbol: NT$, also abbreviated as NT) is the official currency of the Republic of China. The New Taiwan dollar has been the currency of the island of Taiwan since 1949, when it replaced the old Taiwan dollar, at a rate of 40,000 old dollars per one new dollar.^[1] The basic unit of the New Taiwan dollar is called a yuan (圓) and is subdivided into ten chiao (角), and into 100 fen (分) or cents, although in practice both chiao and fen are never actually used.

There are a variety of alternative names for the units in Taiwan. The unit of the dollar is typically informally written with the simpler equivalent character as 元, except when writing it for legal transactions such as at the bank, when it has to be written as 圓. Colloquially, the currency unit is called both 元 (yuán, literally "circle") and 塊 (kuài, literally "piece") in Mandarin, 箍 (kho͘, literally "hoop") in Hokkien, and 銀 (ngiùn, literally "silver") in Hakka.

The Central Bank of the Republic of China (Taiwan) has issued the New Taiwan Dollar since 2000. Prior to 2000, the Bank of Taiwan issued banknotes as the de facto central bank between 1949 and 1961, and after 1961 continued to issue banknotes as a delegate of the central bank. The central bank began issuing New Taiwan dollar banknotes in July 2000, and the notes issued by the Bank of Taiwan were taken out of circulation.

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