The New Taiwan dollar (NT$), issued by the Central Bank, is the national currency of Taiwan. As a major medium of exchange, the currency is an integral part of daily life here. This section will tell you about banknotes and coins issued by the Central Bank and give you a number of tips for detecting counterfeit money.
In 1946, the national currency of the Republic of China was the Silver Dollar, but in an effort to stabilize regional finance, the Bank of Taiwan was authorized to issue the Taiwan dollar (now referred to as the Old Taiwan dollar) to be used in Taiwan only. When hyperinflation ensued, the Taiwan Provincial Government started currency reform in 1949 and issued the New Taiwan dollar. The new currency officially only became the national currency in 2000. Let's take a look at the history of the New Taiwan dollar.
Images chosen for the current series of banknotes include themes on education, sport, technology and ecological conservation, reflecting Taiwan's diverse cultural values. With built-in security features to prevent counterfeiting, the banknotes come in five denominations: NT$100, NT$200, NT$500, NT$1,000, and NT$2,000.
To facilitate the daily small-value transactions for the general public, five denominations of coins were issued: NT$1, NT$5, NT$10, NT$20, and NT$50. Of these, NT$10, NT$20, and NT$50 coins have security features including tactile marks and latent images.