What is Taiwan currency called – Taiwan’s currency is called the New Taiwan Dollar (NT$), with the ISO code TWD. It has been the official currency since 1949, replacing the Old Taiwan Dollar. The base unit is the yuan (圓), and it is subdivided into jiao (角) and fen (分), though these smaller units are rarely used today.
Key Facts About Taiwan’s Currency
- Official name: New Taiwan Dollar (新臺幣, xīn tái bì)
- Currency code: TWD (ISO 4217)
- Symbol: NT$ or $
- Issuing authority: Central Bank of the Republic of China (Taiwan)
- Common banknotes: NT$100, NT$500, NT$1,000
- Common coins: NT$1, NT$5, NT$10, NT$50
Why “New” Taiwan Dollar?
The currency was introduced in 1949 to replace the Old Taiwan Dollar at a rate of 40,000 old dollars = 1 new dollar, stabilizing Taiwan’s economy after hyperinflation.
Also Read-What is a DVM Vet
Comparison with Related Terms
| New Taiwan Dollar | Chinese Yuan | Japanese Yen |
|---|---|---|
| Symbol: NT$ | Symbol: ¥ | Symbol: ¥ |
| Code: TWD | Code: CNY | Code: JPY |
| Used only in Taiwan | Used in mainland China | Used in Japan |
| Introduced in 1949 | Introduced in 1948 | Introduced in 1871 |
FAQs : What is Taiwan currency called
What is Taiwan’s currency called in Mandarin?
新臺幣 (xīn tái bì), meaning “New Taiwan Currency.”
Is Taiwan’s currency the same as China’s yuan?
No, they are completely different currencies.
What denominations are most used in Taiwan?
NT$100, NT$500, NT$1,000 banknotes and NT$10, NT$50 coins.
What is the exchange rate of TWD to USD?
As of June 2026, 1 TWD ≈ 0.031 USD (about 32 TWD = 1 USD).