Description

The New Taiwan dollar, or simply the Taiwan dollar, is the official currency of the Republic of China (Taiwan). Usually, the $ sign precedes the amount, but NT$ is used to distinguish from other currencies named dollar. 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. The base unit of the New Taiwan dollar is called a yuan (圓), subdivided into ten qiao (角) or 100 fen (分), although in practice neither chiao nor fen are used.