The New Taiwan dollar, commonly abbreviated NT$ and assigned the ISO code TWD, is the circulating currency of Taiwan. Its name appears in several scripts and romanizations — see the traditional form (新臺幣 / 新台幣), simplified form (新台币), Hanyu Pinyin (Xīntáibì) and Tongyong Pinyin (Sīntáibì) — and it functions as the official medium of exchange for the island (official currency) of Taiwan.

Characteristics and denominations

The New Taiwan dollar is issued in both coins and banknotes. Common coin denominations include 1, 5, 10, 50 and 20 (though usage of some coins varies), while banknotes are typically printed in values such as 100, 200, 500, 1,000 and 2,000. Banknotes feature portraits, cultural themes and public landmarks, and coins use a mix of metallic colors and images to help distinguish values. The currency is represented in written form as NT$, or simply by the code TWD in financial contexts.

History and issuance

The New Taiwan dollar was introduced in 1949 to stabilize the economy after severe inflation; it replaced the earlier Old Taiwan dollar. Initially banknotes were produced by the Bank of Taiwan, while monetary policy and currency issuance have been managed by the island’s central monetary authority. Banknote production and official issuance responsibilities transitioned over time, and since 2000 printing and issuance duties have been held by the Central Bank of the Republic of China (Central Bank since 2000) following earlier arrangements (introduced in 1949).

Design, security and circulation

Modern New Taiwan dollar banknotes incorporate multiple security features such as watermarks, security threads, color-shifting inks and raised printing. Designs commonly portray historical figures, scenes of economic development and natural or cultural landmarks. Coins use differing metals and edge patterns to aid recognition. The central bank periodically issues commemorative notes and updates to improve durability and counterfeiting resistance.

Usage and exchange

The New Taiwan dollar is used for everyday transactions, savings and pricing across Taiwan’s retail, service and financial sectors. Exchange rates float in the foreign-exchange market under the monetary framework set by the central bank, and travelers or businesses exchange foreign currency with local banks and licensed exchangers. For official references and further specifications see government and central bank publications (traditional name, simplified name, pinyin, Tongyong, and monetary code TWD).

Notable facts and distinctions

  • The New Taiwan dollar is distinct from currencies used in other Chinese-speaking jurisdictions and is legal tender only in Taiwan.
  • Designs have changed over time to reflect cultural priorities and to incorporate new anti-counterfeiting technologies.
  • Authoritative details about issuance, denominations and design updates are maintained by the island’s monetary authorities and central bank (official, Taiwan).