New Taiwan dollar
New Taiwan dollar (; code: TWD; symbol: NT$, also abbreviated as NT) is the official currency of the Republic of China (ROC) used in Taiwan Area. Formally, one dollar () is divided into ten dimes (), and to 100 cents (), although cents are never used in practice. The New Taiwan dollars has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar, at a rate of 40,000 old dollars per one new dollar. There are a variety of alternative names to the units in Taiwan. The unit of dollar is usually written in simpler form as . Colloquially, the currency unit usually called (kuài, literally "piece") in Mandarin, (kho͘, literally "hoop") in Taiwanese Hokkien, and (ngiùn, literally "silver") in Hakka.
Taiwan Miracle
In 1952, Taiwan had a per capita gross national product (GNP) of $170, placing the island's economy squarely between Zaire and Congo. But, by 2010 Taiwan's per capita GNP, adjusted for purchasing power parity (PPP), had soared to $35,227, similar to that of developed West European economies and Japan.