Currency Rates for New Taiwan Dollar
Currency Exchange Rates for New Taiwan Dollar. Currency Information on TWD for Taiwan. NT$. The foreign exchange currency code for TWD represents the New Taiwan Dollar exchange rate
GBP to TWD
Bank Exchange Rates for Taiwan - TWD - New Taiwan Dollar - NT$
The foreign exchange rates for Taiwan also known as the ISO code TUD or New Taiwan Dollar currency and as a symbol $
The New Taiwan Dollar prefaced with NT to differentiate from the other dollar currencies in the world is the official currency of Taiwan since June 15, 1949. The 'New' is added in Chinese wherever it is deemed necessary to avoid confusion. The unit is called yuÃ¡n in China and in Taiwanese can be represented by the form: å…
First issued in 1949 to counter the effects of hyperinflation that had troubled Taiwan and mainland China since the civil unrest in China. Although the New Taiwan Dollar became the official currency in 1949, it has been rarely used, most people were still using the silver yuan (the value of silver yuan was delinked from silver during the second world war) until the year 2000. Issued at first by the Bank of Taiwan, the New Taiwan Dollar was reissued in the year 2000 by the erstwhile Central bank of China renamed now to the Central Bank of the Republic of China and all earlier notes issued by Bank of Taiwan were removed from circulation. The New Taiwan Dollar since year 2000 is the official currency no longer playing second fiddle to the silver yuan.
One New Taiwan Dollar is comprised of 100 cents. Denominations available as coins are NT $1, NT $5, NT $10, NT $20. Bank notes in New Taiwan Dollar are available in denominations of NT $100, NT $200, NT $500, NT $1000, NT $2000. Although the two bank notes of NT$200 and NT$2000 are not used frequently. The reason could simply be that users can cover the $200 bill with NT$100 or NT$500 bills and for higher denomination preferring digital payment modes than carrying cash.
The exchange rate as of July 2017 compared to the USD is 30.5 to one. At one during the 60's this rate had gone up to 40 to 1.
The New Taiwan dollar replaced the Old Taiwan dollar in 1949, at a ratio of 40,000 old Taiwan dollars to 1 new Taiwan dollar.
In comparison to the US dollar, the exchange rate has varied over time from less than 10:1 to over 40:1, most recently it has stabilised at around 30:1.
Send Money Transfer to Taiwan. Frequently used coin denominations include $1, $5, $10 and $50, whilst denominations of $½ and $20 are rarely used. Banknotes are available in denominations of $100, $200, $500, $1000 and $2000, but the denominations $200 and $2000 are rarely used. Bank Exchange Rates for New Taiwan Dollar. The foreign exchange rates for Taiwan also known as the ISO code TWD. Send money transfer online with us with the cheapest options.