What currency is used in Taiwan?
List of motifs on banknotes
The official currency of Taiwan is the New Taiwan dollar (TWD). The motifs used are:
Western Taiwan Straits Economic Zone
Taiwan's current GDP in 2007 was 388.1 billion US dollars.
History of Taiwan since 1945
Wey was succeeded as governor by Chen Cheng in 1949. Wey reformed the currency system, replacing the devalued old Taiwan dollar with the New Taiwan dollar, at a 40,000:1 exchange rate, and implemented the , easing the inflationary situation.
Fifth series of the new Taiwan dollar banknote
First introduced on 1 July 2002, de facto this banknote does not appear common to the public possibly due to its new denomination and fears of losses through receiving a large-value counterfeit banknote.
Television in Taiwan
Cable television is prevalent in Taiwan, as a result of cheap subscription rates (typically around NT$550, or US$15 a month) and the paucity of free-to-air television, which comprises four channels. Programming is mostly in Mandarin and Taiwanese, with some English, Japanese and other foreign-language channels. Miniseries, called Taiwanese drama, are popular. There is a dedicated station for Taiwan's Hakka minority as well as the arrival in 2005 of an aboriginal channel. Almost all programs are in the original language with traditional Chinese subtitles.
Faster Payment System
FPS supports payments in Hong Kong dollars (HKD) and Chinese Yuan Renminbi (CNY).After 3 weeks of launching FPS in Hong Kong, there were several cases of fraud reported to Hong Kong Police that involved a combined loss of HKD 180,000 to customers. After the incidents were found, HKMA suspended the functions of top up to all e-wallets operators until security issue fixed. Few days later, it was revealed that more than 10 suspected cases were reported and the loss was surged to HKD 400,000.
Taiwan
In 1962, Taiwan had a (nominal) per-capita gross national product (GNP) of $170, placing its economy on a par with those of the Democratic Republic of the Congo. On a purchasing power parity (PPP) basis, its GDP per capita in the early 1960s was $1,353 (in 1990 prices). By 2011 per-capita GNP, adjusted for purchasing power parity (PPP), had risen to $37,000, contributing to a Human Development Index (HDI) equivalent to that of other developed countries. Taiwan's HDI in 2012 is 0.890, (23rd, very high), according to the UN's new "Inequality-adjusted HDI" calculation method.
China and the International Monetary Fund
The IMF conducts a quarterly survey called COFER, or the Currency Composition of Official Foreign Exchange Reserves. This survey collects information on member states’ foreign exchange reserves. With the recent inclusion of the Chinese Yuan, the currency varieties in the 4th quarter of 2016 COFER report includes the U.S. Dollar, the Euro, the Japanese Yen, the British Pound, the Swiss Franc, the Australian Dollar, the Canadian Dollar, and the Chinese Yuan. For the five SDR reserved currencies, their respective global foreign exchange reserve sums were as follows:
Central Engraving and Printing Plant
The Central Engraving and Printing Plant (CEPP; ) is a subsidiary of the Central Bank of the Republic of China (Taiwan). It is responsible for printing the paper bank notes of Taiwan in its currency, the New Taiwan dollar.
Taiwan dollar
Taiwan dollar can refer to either of the following:
CFP franc
Before the French regulated the currency on Tahiti, French Polynesia, traders often used dollars. The word “dollar” became "tārā" (often written without accents as "tara", or "tala"), and this term is still used among native Tahitian and local Chinese traders as an unofficial unit, worth 5 francs. Thus for a price of 200 francs, one would say "tārā e maha-ahuru" (40 tārā) in Tahitian. The currency of Samoa is also called the tālā.
List of people on banknotes
Currencies: Franc (fr., 1944–2002)Euro (€, 2002–present)"See also Luxembourgish franc."
Currency: Pataca (MOP$; since 1894)"See also Macanese pataca."
Currency: Malian franc (MAF; 1962-1984)"See also Malian franc".
Currency: Lira (pl. liri: Lm; 1825-2007)"See also Maltese lira."
Currency: Peso ($, 1821–Present)"See also Mexican peso."
Currency: Mohru/Rupee (Rs.; since 1932)"See also Nepalese rupee".
Currencies: Gulden (ƒ, 1817–2002)Euro (€, 2002–present)"See also Banknotes of the Dutch gulden and Dutch gulden".
Currency: Krone (kr, 1877–Present)"See also Banknotes of the Norwegian krone and Norwegian krone".
Currency: Rupee (Rs., 1947–present)"See also Pakistani rupee."
Currency: Balboa (B/.; since 1904)"See also Panamanian balboa".
Currency: Peso (₱; since 1903)"See also Banknotes of the Philippine peso and Philippine peso (piso)".
Currency: Złoty (zł, 1924–present)"See also Historical coins and banknotes of Poland and Polish złoty".
Currencies: Escudo ($, 1911–2002)Euro (€, 2002–present)"See also Portuguese escudo."
Currency: Portuguese Indian rupia (1871-1958); Portuguese Indian escudo (1958-1961)"See also Portuguese Indian rupia and Portuguese Indian escudo." 
Currency: Portuguese Timorese escudo (1959-1976)"See also Portuguese Timorese escudo."
Currency: Dinar (plural Dinara (1992-1998))"See also Republika Srpska dinar."
Currency: Leu (L, 1867–Present)"See also Banknotes of the Romanian leu."
Currency: Dollar ($; 1858-1953)"See also Sarawak dollar."
Currencies: Tolar (SIT, 1991–2007)Euro (€, 2007–present)"See also Slovenian tolar."
Currencies: Pound (£, 1825–1961)Rand (R, 1961–present)"See also South African pound and South African rand."
Currency: Ruble (руб, 1917–1991) and Chervonet (1922–1947)"See also Soviet ruble and Russian chervonets."
Currencies: Peseta (₧, 1868–2002)Euro (€, 2002–present)"See also Spanish peseta."
Currency: Dollar ($; 1898-1939)"See also Straits dollar."
Currency: Sudanese pound (1957-June 8, 1992)"See also Sudanese pound".
Currency: Guilder ("Gulden" (ƒ); 1940-2003)"See also Surinamese guilder".
Currency: Krona (kr, 1873–Present)"See also Swedish krona."
Currency: Franc (Fr., 1850–Present)"See also Swiss franc."
Currency: Paanga (T$; since 1967)"See also Tongan paʻanga".
Currency: Lira (₤, 1843–2005)New Lira (₤, 2005–present)"See also Turkish lira and Turkish new lira."
Currency: First manat (1993-2005)"See also Turkmenistan manat".
Media of Taiwan
Cable television is prevalent in Taiwan, as a result of cheap subscription rates (typically around NT$550, or US$15 a month) and the paucity of free-to-air television, which comprises about 20 channels. Programming is mostly in Mandarin and Taiwanese with a few channels are in Hakka or English. There are also programs in other foreign languages, mainly east Asian and south-east Asian languages. Miniseries, called Taiwanese drama, are popular. There is a dedicated station for Taiwan's Hakka minority as well as the arrival in 2005 of an aboriginal channel. There are around 100 channels with most stations being dedicated to a particular genre; such as game shows, news, anime, movies, sports and documentaries. Almost all programs are in the original language with traditional Chinese subtitles.
Great Recession
In Taiwan, the central bank on September 16, 2008, said it would cut its required reserve ratios for the first time in eight years. The central bank added $3.59 billion into the foreign-currency interbank market the same day. Bank of Japan pumped $29.3 billion into the financial system on September 17, 2008, and the Reserve Bank of Australia added $3.45 billion the same day.
Hong Kong dollar
As of April 2016, the Hong Kong dollar is the thirteenth . Apart from its use in Hong Kong, the Hong Kong dollar is also used in neighbouring Macau, where the Hong Kong dollar circulates alongside the Macau pataca.
Old Taiwan dollar
Taiwan was under Japanese rule from 1895 to 1945 and the colonial government of Taiwan issued Taiwanese yen during this period through the Bank of Taiwan. In 1945, after the Japanese Empire was defeated in World War II, Taiwan was handed over to the Republic of China (ROC). Within a year, the Nationalist government assumed control of the Bank of Taiwan and issued Taiwan dollars (also known as Taiwan Nationalist yuan or TWN) as a "provisional" replacement for the Taiwan yen at the rate of one to one. The new banknotes were initially printed in Shanghai, and were shipped to Taipei. After the Nationalists consolidated their control over Taiwan the banknotes were printed in Taipei. The currency was not subdivided (no cents), and no coins were issued.
Banknotes of the Thai baht
The banknotes of the Thai baht are part of the physical form of Thailand's currency, Thai baht. The issuance of the baht banknotes is managed by the Bank of Thailand. Throughout its history, the denominations have ranged from 1 baht to 100,000 baht. The circulating banknotes today in Thailand, however, are ranged from 20 baht, 50 baht, 100 baht, 500 baht and 1000 baht. The currently circulating series are 17th, 16th and 15th series. Thai baht banknotes commonly include the portrait or the picture of the sculpture of its kings. The obverses have been designed with the current king's portrait. Whilst, in the reverses, mostly the picture of notable kings and kings with the title "the great". Some reverses feature the King Bhumibol's sayings.
Bank of Taiwan
After the Japanese surrender in 1945, the ROC government (led by the Chinese Nationalist Party, or KMT) took over the Bank of Taiwan and began issuing "Taiwan dollars", also known as "Taiwan Nationalist Yuan", through the Bank of Taiwan. This currency is now referred to as the "old Taiwan dollar." Severe inflation of this currency during the Chinese Civil War led the Bank of Taiwan to issue the "New Taiwan Dollar" in 1949. After the loss of mainland China in the Chinese Civil War by the KMT and its subsequent retreat to Taiwan, the Bank of Taiwan took on a more central role as the central bank of the ROC until the Central Bank of China was reestablished in 1961. The Bank of Taiwan was governed under the Taiwan Provincial Government until 1998 when governance was transferred to the ROC Finance Ministry. In 2001 the Central Bank of China took over the task of issuing the New Taiwan Dollar.
Economy of Myanmar
The national currency is the kyat. Burma currently has a dual exchange rate system similar to Cuba. The market rate was around two hundred times below the government-set rate in 2006. In 2011, the Burmese government enlisted the aid of International Monetary Fund to evaluate options to reform the current exchange rate system, to stabilise the domestic foreign exchange trading market and creates economic distortions. The dual exchange rate system allows for the government and state-owned enterprises to divert funds and revenues, but also gives the government more control over the local economy and temporarily subdue inflation.
IPASS (Taiwan)
The iPASS (Chinese: 一卡通) is a contactless smartcard operated by the iPASS Corporation. Starting from February 13, 2017, both EasyCard and iPASS in Taiwan are accepted for virtually all public transport including Kaohsiung Metro, Taipei Metro, buses and TRA. It also serves as an electronic wallet. It is available for purchase at all Kaohsiung and Taipei metro stations, and some convenience stores.
Lao kip
The kip (; code: LAK; sign: ₭ or ₭N; ; officially: ເງີນກີບລາວ, lit. "currency Lao kip") is the currency of Laos since 1952. Historically, one kip was divided into 100 "att" ().
Taiwan Railways Administration
Smartcard development in Taiwan is currently fluid. With 13 million cards issued, readers for Mifare
Classic-based EasyCard are already installed at convenience stores like Family Mart.
Legislation authorizing "Third Generation e-Purse" (stored value limit ~US$300) was passed in March 2010, allowing smartcard payments for low-value non-transportation items, like Hong Kong's Octopus Card. Three major competitors hold regional subway/bus fare collection franchises (Taipei's "Youyoka" EasyCard, Mid-Island's "TaiwanTong", and Kaohsiung's "I Pass"), and TRA has active pilots with both EasyCard and TaiwanTong. Taiwan's MOTC expects to eventually integrate all electronic farecard systems nationwide.
Economic consequences of the 2006 Thai coup d'état
Emerging Asian currencies were hit harder. Against the Singapore dollar, the U.S. currency was up 0.3 percent at 1.5906 Singapore dollars and against the Philippine peso, the dollar was up 0.1 percent at 50.030 pesos. Some other emerging market currencies fell, including the Brazilian real, which lost 0.8 percent, and the Indonesian rupiah, which dropped 0.6 percent.
Yuan (currency)
In the Republic of China, the common English name is the "New Taiwan dollar" but banknotes issued between 1949 and 1956 used "yuan" as the transliteration. More modern notes lack any transliteration.
Macanese pataca
Despite the fact that the pataca is the official currency of Macau, most of the money in circulation in the Region is actually Hong Kong dollars. Patacas accounted for only 29.9% of Macau's money supply at the end of 1998.
The exchange rate is pegged and is approximately MOP$1.03 for HK$1. For United States dollars, to which the Hong Kong dollar is in turn loosely pegged, the exchange rate is around 8 patacas to 1 US dollar. Although it is possible to exchange patacas in Macau, it is either difficult or impossible to do so elsewhere. The few places in Hong Kong where patacas are available are concentrated on Cleverly Street in Central, a short distance from the Hong Kong-Macau Ferry Terminal.
Dollar
Dollar (often represented by the dollar sign $) is the name of more than 20 currencies, including those of Australia, Canada, Hong Kong, Jamaica, Liberia, Namibia, New Zealand, Singapore, Taiwan, and the United States, whose US dollar is also the official currency of Caribbean Netherlands, East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, Panama, and Zimbabwe.
Yen sign
The yen
or yuan sign (¥) is a currency sign used by the Japanese yen and the Chinese yuan currencies. This monetary symbol resembles a Latin letter Y with a single or double horizontal stroke. The symbol is usually placed before the value it represents, for example "￥50", unlike the kanji/Chinese character, which is more commonly used in Japanese and Chinese and is written following the amount: 50円 in Japan and 50元 in China.
Consensus Economics
The publication provides coverage for over 90 currencies, which includes the following: US dollar, Euro, Japanese yen, Argentinian peso, Australian dollar, Brazilian real, Canadian dollar, Chilean peso, Chinese renminbi, Colombian peso, Czech Koruna, Danish krone, Hong Kong dollar, Hungarian forint, Indian rupee, Indonesian rupiah, Israeli shekel, Malaysian ringgit, Mexican peso, New Zealand dollar, Norwegian krone, Peruvian sol, Philippine peso, Polish zloty, Romanian leu, Russian rouble, Singaporean dollar, South African rand, South Korean won, Swedish krona, Swiss franc, Taiwanese dollar, Thai baht, Turkish lira, Ukrainian hryvnia, UK pound, Venezuelan bolivar, Albanian lek, Algerian dinar, Angolan kwanza, Azerbaijani manat, Bahrain dinar, Bangladesh taka, Belarusian rouble, Bolivian boliviano, Botswana pula, Bulgarian lev, Costa Rica colon, Croatian kuna, Dominican Republic peso, Ecuadorian sucre, Egyptian pound, El Salvador colon, Georgian lari, Ghanaian cedi, Guatemalan quetzal, Guyanese dollar, Haitian gourde, Honduran lempira, Icelandic krona, Iranian rial, Iraqi dinar, Ivory Coast CFA franc, Jamaican dollar, Jordanian dinar, Kazakhstani tenge, Kenyan shilling, Kuwaiti dinar, Laos kip, Lebanese pound, Libyan dinar, Macedonian denar, Malawian kwacha, Moroccan dirham, Myanmarian kyat, Nicaraguan cordoba, Nigerian naira, Oman rial, Pakistani rupee, Paraguayan guarani, Saudi Arabian riyal, Serbian dinar, Sri Lankan rupee, Sudanese pound, Syrian pound, Tanzanian shilling, Tunisian dinar, UAE dirham, Ugandan shilling, Uruguayan peso, Vietnamese dong, Yemeni rial and Zambian kwacha.
New Taiwan dollar
The denominations of the New Taiwan dollar in circulation are:
Coins are minted by the Central Mint, while notes are printed by the Central Engraving and Printing Plant. Both are run by the Central Bank. The NT$ coin is rare because of its low value, while the NT$20 coin is rare because of the government's lack of willingness to promote it. As of 2010, the cost of the raw materials in a NT$ coin was more than the face value of the coin.
Taxation in Taiwan
First conceived in the 1950s, the Taiwan government created a uniform invoice system to encourage honest reporting of sales and prevent underpayment of taxes by businesspeople. To provide an incentive, the government launched a receipt lottery system. Each receipt is coded with an alphanumeric number, and every two months a lottery drawing is held with prizes ranging up to NT$10 million (approximately $335,000 USD as of February 2012) depending on how many numbers match. The lottery is governed by the Uniform Invoice Award Regulations.
Fifth series of the new Taiwan dollar banknote
Two new denominations were issued in this series, the NT$200 and NT$2,000. The NT$100 and NT$200 banknotes features national figures and buildings, while the other denominations present more general national themes and natural habitats in Taiwan. The groups of people depicted on themes of the NT$500 and NT$1,000 banknotes are real personalities taken by photographers.
Fifth series of the new Taiwan dollar banknote
For years the old Chinese Nationalist yuan was still the official national currency of the Republic of China. The Chinese Nationalist yuan was also known as the "fiat currency" (法幣) or the "silver yuán" (銀元), even though it was decoupled from the value of silver during World War II. Many older statutes in ROC law have fines and fees denominated in this currency.
Minimum wage in Taiwan
The minimum wage in Taiwan is the lowest hourly or monthly remuneration that employers may legally pay to workers in Taiwan. It is also known as the basic wage. Taiwan's basic wage system is discussed in the third quarter of every year by the Basic Wage Committees and announced and implemented by the Executive Yuan after its approval. The current basic wage in Taiwan is NT$22,000 per month, or NT$140 per hour, since 1 January 2018, and will be raised to NT$23,100 per month and NT$150 per hour in 1 January 2019 .
According to the Labor Standards Law, workers who are applicable may be applicable to the basic wage as well, and wages that employers give to them may not be less than the basic wage.
National Bank of Tuvalu
The NBT cashes travellers cheques. There are no credit-card facilities or ATMs available in Tuvalu. The Tuvaluan dollar is not an independent currency, but a variation of the Australian dollar. Tuvalu began issuing its own coins for circulation, although these circulate alongside Australian coins and Tuvalu continues to use Australian banknotes.
List of Taiwan exchange-traded funds
These ETFs are also listed and traded in different currencies on other stock exchanges:
The Moon Is a Harsh Mistress
Except where exchange involves the Authority, a generally unregulated free market exists. The preferred currency is the dollar of the Bank of Hong Kong Luna, 100 of which are exchangeable for a troy ounce of gold, a supply of which was shipped to Luna for this purpose, or more usefully for potable water or other commodities in published quantities. The Authority dollar circulates in dealings with the Authority, but this tends to lose ground over time against the Hong Kong Luna dollar.
Brunei dollar
The Brunei dollar (Malay: "ringgit Brunei", currency code: "BND"), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 "sen" (Malay) or "cents" (English). The Brunei dollar is issued by the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam). The name is the same in Malaysian ringgit, but the MYR has its own name.
Economy of Thailand
Thailand is a newly industrialized country. Its economy is heavily export-dependent, with exports accounting for more than two-thirds of its gross domestic product (GDP). In 2017, according to the IMF, Thailand had a GDP of 15.450 trillion baht (US$455 billion), the 8th largest economy of Asia. Thailand has a headline inflation rate of 3.02 percent and an account surplus of 0.7 percent of the country's GDP. The Thai economy is expected to post 4.1% growth in 2018. Its currency, the Thai Baht, also ranked as the tenth most frequently used world payment currency in 2017.
Yuan (currency)
In 1949, a second yuan was introduced in Taiwan, replacing the first at a rate of 40,000 to 1. Known as the New Taiwan dollar, it remains the currency of Taiwan.
Ten-satang coin
The Thailand ten-satang coin is a currency unit equivalent to one-tenth of a Thai baht. It is rare in circulation but used in banking transactions. It was introduced in 1908 as a coin with a hole through its middle and minted until 1939.
Taiwan
When the KMT government fled to Taiwan it brought millions of taels (where 1 tael = 37.5 g or ~1.2 ozt) of gold and the foreign currency reserve of mainland China, which, according to the KMT, stabilized prices and reduced hyperinflation. Perhaps more importantly, as part of its retreat to Taiwan, the KMT brought the intellectual and business elites from Mainland China. The KMT government instituted many laws and land reforms that it had never effectively enacted on mainland China. The government also implemented a policy of import-substitution, attempting to produce imported goods domestically.
Wincor Nixdorf
On July 12, 2016, the media reported that at least 34 ATMs belonging to the Taiwanese had been hacked via a Malware heist. Over 70 million Taiwan dollar (equivalent to 2 million USD) had been withdrawn illegally. The ATMs had been manufactured by Wincor Nixdorf. According to the investigative authority, the international criminal hacker group used mobile devices instead of bank cards to activate the cash-withdrawal process. Security experts from the company were sent to investigate the security breach. At the time of the incident, there were approximately one thousand cash machines of this same type in use in Taiwan. A detailed investigation into the vulnerability began immediately.
Old Taiwan dollar
The Taiwan dollar was replaced by the New Taiwan dollar on 15 June 1949, at the rate of 1 new dollar to 40,000 old dollars. The Nationalists were defeated by the Communists in December of the same year and retreated to Taiwan. The government then declared in the Temporary Provisions Effective During the Period of Communist Rebellion that dollars issued by the Bank of Taiwan would become the new currency in circulation.
Chinese cash (currency unit)
Early Korean, Japanese, Ryukyuan, and Vietnamese currencies, the Korean mun, Japanese mon, Ryukyuan mon, and Vietnamese van, were derived from the Chinese "wén" and written with the same character. In 1695, the Shogunate placed the character "gen" () on the obverse of copper coins. Vietnam gained independence from China in 938 and merely carried on the tradition of using cash. The first Vietnamese cash was issued in 968.
Tongan paʻanga
The paanga is the currency of Tonga. It is controlled by the National Reserve Bank of Tonga ("Pangikē Pule Fakafonua o Tonga") in Nukualofa. The paanga is not convertible and is pegged to a basket of currencies comprising the Australian, New Zealand, United States dollars and the Japanese yen.
Vietnam and the International Monetary Fund
Since 2012, the Vietnamese dong closely tied to the U.S. dollar. Every year or two Vietnam undergoes a cycle staff report based off Article IV Consultation and hold discussions of their economic developments. As of July 2016, Vietnam has found some promising progress as they have decreased their poverty rate by one percent and managed to lower their inflation. Their main source of exports are crude oil, electronics, coffee, rice, and rubber, while their key export buyers are the US, Japan, and the developing members of ASEAN.
Renminbi
The Republic of China, which governs Taiwan, believes wide usage of the renminbi would create an underground economy and undermine its sovereignty. Tourists are allowed to bring in up to ¥20,000 when visiting Taiwan. These renminbi must be converted to the New Taiwan dollar at trial exchange sites in Matsu and Kinmen. The Chen Shui-bian administration insisted that it would not allow full convertibility until the mainland signs a bilateral foreign exchange settlement agreement, though president Ma Ying-jeou has pledged to allow full convertibility as soon as possible.
Fifth series of the new Taiwan dollar banknote
Accordingly, the Central Bank of China relaunched the banknote with a holographic strip with the two errors rectified and the globe now rotated to the 140th meridian east on 20 July 2005. NT$1,000 banknotes without the holographic stripe have been recalled and withdrawn from use on 1 August 2007. As of 1 October 2007, only the Bank of Taiwan (now the Central Bank of the Republic of China) accepts such notes.
Sun Yat-sen stamps
Taiwan was under Japanese occupation from 1895 until 1945-10-25 when control was surrendered to China. Until a change could be made in 1948, Taiwan continued to use a currency based on that of Japan. Thus, the new stamps introduced on 1947-07-10 were denominated in yen even though that is not apparent from the face of the stamp. This "Taiwan Farm Products" issue has the Arabic value tablet in the lower right of the stamp and the Chinese value tablet in the upper left. Both printings of this set were engraved by the Dah Tung Book Co. of Shanghai, perforated 14, and issued without gum.
List of motifs on banknotes
The official currency of Thailand is the Thai Baht (THB). The motifs used are:
Vietnamese cash
Vietnamese cash ( ; chữ Nôm: ; ) is a cast round coin with a square hole that was an official currency of Vietnam from the Đinh dynasty in 970 until the Nguyễn dynasty in 1945, and remained in circulation in North Vietnam until 1948. The same type of currency circulated in China, Japan, Korea, and Ryūkyū for centuries. Though the majority of Vietnamese cash coins throughout history were copper coins, lead, iron (from 1528) and zinc (from 1740) coins also circulated alongside them often at fluctuating rates (with 1 copper cash being worth 10 zinc cash in 1882). The reason why coins made from metals of lower intrinsic value were introduced was because of various superstitions involving Vietnamese people burying cash coins, as the problem of people burying cash coins became too much for the government as almost all coins issued by government mints tended to be buried mere months after they had entered circulation, the Vietnamese government began issuing coins made from an alloy of zinc, lead, and tin. As these cash coins tended to be very fragile they would decompose faster if buried which caused the Vietnamese people to stop burying their coins.
Tuvaluan dollar
The dollar is the currency of Tuvalu. From 1966 to 1976, Tuvalu officially used the Australian dollar. In 1976, Tuvalu began issuing its own coins for circulation, although these circulate alongside Australian coins and Tuvalu continues to use Australian banknotes. Similar to the Faroese króna's relationship to the Danish krone and the Panamanian balboa's relationship to the United States dollar, the Tuvaluan dollar is not an independent currency, but a variation of the Australian dollar. The official international currency code is TVD.
French Indochinese piastre
Prior to the arrival of the French in Indo-China in the second half of the 19th century, cash coins similar to those used in the provinces of China circulated in the area that is nowadays known as Vietnam. There was also a silver milled dragon coin and associated subsidiary coinage in circulation. The dragon coin is believed to have been in imitation of the Spanish and Mexican silver dollars which also circulated widely in the region at that time, however the dragon dollars were worth less because the fineness of the silver was less than that in the Spanish and Mexican dollars. In the region that is nowadays Cambodia and Laos, the Siamese coinage circulated and Cambodia had its own regional varieties of the Siamese Tical (Thai Baht).
Yuan (currency)
The yuan (; sign: ¥; ; ) is the base unit of a number of former and present-day currencies in Chinese.
Minimum wage in Taiwan
In 1968, the ROC Executive Yuan issued Temporary Measures for the Basic Wage, which regulated NT$600 as the monthly basic wage. Meanwhile, it was the first official basic wage rule regulated by law.
Yuan (currency)
The traditional character is also used to denote the base unit of Hong Kong dollar, the Macanese pataca, and the New Taiwan dollar. However, they do not share the same names for the subdivisions. The unit of a New Taiwan dollar is also referred to in Standard Chinese as "yuán" and written as 元, 圆 or 圓.
New Zealand dollar
The New Zealand dollar (sign: $; code: NZD, also abbreviated NZ$) () is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zealand, it is almost always abbreviated with the dollar sign ($), with "NZ$" sometimes used to distinguish it from other dollar-denominated currencies. In the context of currency trading, it is often informally called the "Kiwi" or "Kiwi dollar", since New Zealand is commonly associated with the indigenous bird and the one-dollar coin depicts a kiwi.
Tahiti
Tahiti's currency, the French Pacific Franc (CFP, also known as XPF), is pegged to the Euro at 1 CFP = EUR .0084 (1 EUR = 119.05 CFP, approx. 113 CFP to the US Dollar in March 2017). Hotels and financial institutions offer exchange services.
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.
International use of the U.S. dollar
The People's Republic of China's renminbi was informally and controversially pegged to the dollar in the mid-1990s at ¥ 8.28/USD. Likewise, Malaysia pegged its ringgit at RM3.8/USD in September 1998, after the financial crisis. On July 21, 2005, both countries removed their pegs and adopted managed floats against a basket of currencies. Kuwait did likewise on May 20, 2007, and Syria did likewise in July 2007. However, after three years of slow appreciation, the Chinese yuan has been "de facto" re-pegged to the dollar since July 2008 at a value of ¥6.83/USD; although no official announcement had been made, the yuan has remained around that value within a narrow band since then, similar to the Hong Kong dollar.
Taiwan
Mandarin is the official national language and is spoken by the vast majority of the population of Taiwan. It has been the primary language of instruction in schools since the end of Japanese rule. As in Hong Kong and Macau, Traditional Chinese is used as the writing system in Taiwan.
Taiwanese yen
In 1899, the Bank of Taiwan introduced 1 and 5 yen notes, followed by 50 yen notes in 1900 and 10 yen in 1901. 100 yen notes were introduced in 1937 and 1000 yen in 1945. The last notes issued were dated 1945.
Thai baht
According to SWIFT, as of February 2017, the Thai baht is ranked as the 10th most frequently used world payment currency.
Japanese military yen
The territories controlled or occupied by Japan had many different currencies. Taiwan maintained its own banking system and bank notes after it came under Japanese sovereignty in 1895. The same is true for Korea post 1910. Between 1931 and 1945, large parts of China and South East Asia were occupied by Japan. Several types of currencies were put into circulation there during the occupation. In China, several puppet governments were created (e.g. Manchukuo), each issuing their own currency. In South East Asia, the Japanese military arranged for bank notes to be issued, denominated in the various currencies (rupees, pesos, dollars, etc.) that had been circulating there prior to the occupation. These latter are referred to as Japanese invasion money. In addition to these currencies, the Japanese military issued their own bank notes, denominated in yen - this is the Japanese military yen. The military yen became the official currency in some occupied areas, e.g. Hong Kong.
Tiền
The tiền (Hán tự: ) was a currency used in Vietnam during the 19th and 20th centuries. The name is a cognate with the Chinese "qián" (錢), a unit of weight called "mace" in English.
Singapore
The currency of Singapore is the Singapore dollar (SGD or S$), issued by the Monetary Authority of Singapore (MAS). It is interchangeable with the Brunei dollar at par value since 1967, owing to their historically close relations. MAS manages its monetary policy by allowing the Singapore dollar exchange rate to rise or fall within an undisclosed trading band. This is different from most central banks, which use interest rates to manage policy.
Formosa bond
A Formosa bond is a bond issued in Taiwan but denominated in a currency other than the New Taiwan Dollar. They are issued by the Taiwan branches of publicly traded overseas financial institutions and to be traded must have a credit rating of BBB or higher.
Old Taiwan dollar
The denominations of the Old Taiwan dollar in circulation were:
Old Taiwan dollar
Due to the Chinese Civil War in the late 1940s, Taiwan, like mainland China, suffered from hyperinflation. As inflation worsened, the government issued banknotes at higher and higher denominations, up to one million yuan. Because the inflation of the Taiwan dollar was only a side effect of the inflation of Chinese yuan of mainland China, it depreciated at a slower rate than the currency used on the mainland.
Central Bank of the Republic of China (Taiwan)
The Central Bank of the Republic of China (Taiwan) (CBC; ), known in English from 1924 to 2007 as the Central Bank of China, is the central bank of the Republic of China, now commonly known as Taiwan. Its legal and common name in Chinese is literally translated as the "Central Bank". The central bank is administered under the Executive Yuan of the ROC government.
Taiwan under Japanese rule
In March 1897, the Japanese Diet passed the "Taiwan Bank Act", establishing the Bank of Taiwan, which began operations in 1899. In addition to normal banking duties, the Bank would also be responsible for minting the currency used in Taiwan throughout Japanese rule. The function of central bank was fulfilled by the Bank of Taiwan.
History of Chinese currency
At the time of invasion of China's northeast in 1931, multiple currencies were circulating. These included local provincial issues, the Kuomintang fabi and yen currencies issued by the Bank of Chosen and the Bank of Taiwan.
Economy of Vietnam
Vietnam's currency is the Vietnamese đồng.
Taiwan
Since the beginning of the 1990s, the economic ties between Taiwan and the People's Republic of China have been very prolific. , more than US$150 billion have been invested in the PRC by Taiwanese companies, and about 10% of the Taiwanese labour force works in the PRC, often to run their own businesses. Although the economy of Taiwan benefits from this situation, some have expressed the view that the island has become increasingly dependent on the Mainland Chinese economy. A 2008 white paper by the Department of Industrial Technology states that "Taiwan should seek to maintain stable relation with China while continuing to protect national security, and avoiding excessive 'Sinicization' of Taiwanese economy." Others argue that close economic ties between Taiwan and Mainland China would make any military intervention by the PLA against Taiwan very costly, and therefore less probable.
Renminbi
The renminbi circulates in some of China's neighbors, such as Pakistan, Mongolia and northern Thailand. Cambodia welcomes the renminbi as an official currency and Laos and Myanmar allow it in border provinces such as Wa and Kokang and economic zones like Mandalay. Though unofficial, Vietnam recognizes the exchange of the renminbi to the đồng.
Yuan (currency)
The symbol for the yuan (元) is also used in Chinese to refer to the currency units of Japan "(yen)" and Korea "(won)", and is used to translate the currency unit "dollar" as well as some other currencies; for example, the United States dollar is called "Meiyuan" () in Chinese, and the euro is called "Ouyuan" (). When used in English in the context of the modern foreign exchange market, the Chinese yuan (CNY) refers to the renminbi (RMB), which is the official currency used in mainland China.
Tuvaluan dollar
Other currencies used in Tuvalu have been the Pound Sterling, prior to the introduction of the Australian dollar, as well as the US dollar, during the World War II American occupation of the islands. Gilbert and Ellice Islands banknotes have also been used on in Tuvalu, These notes were cashier's cheques backed in Pounds rather than an official, independent currency. The yen-backed Oceania pound was used in parts of the Gilberts (now Kiribati), but Japanese influence never actually reached the Ellice Chain (now Tuvalu).
New Taiwan dollar
The current set includes banknotes for NT$100, NT$200, NT$500, NT$1000, and NT$2000. Note that the NT$200 and NT$2000 banknotes are not commonly used by consumers. This may be due to the tendencies of consumers to simply use multiple NT$100 or NT$500 bills to cover the range of the NT$200, as well as using NT$1000 bills or credit/debit cards instead of the NT$2000 bill. Lack of government promotion may also be a contributing factor to the general lack of usage.
New Taiwan dollar
It is relatively easy for the government to disseminate these denominations through various government bodies that do official business with the citizens, such as the post office, the tax authority, or state owned banks. There is also a conspiracy theory against the Democratic Progressive Party, the ruling party at the time the two denominations were issued. The conspiracy states that putting Chiang Kai-shek on a rarely used banknote would "practically" remove him from the currency, while "nominally" including him on the currency would not upset supporters on the other side of the political spectrum that much (the Pan-Blue Coalition).
Central Bank of the Republic of China (Taiwan)
After the loss of mainland China in the Chinese Civil War by the Kuomintang (KMT) and its subsequent retreat to Taiwan in December 1949, the Central Bank of China also moved along with the government to Taiwan. Until it was re-established as central bank in 1961, the Bank of Taiwan acted as the "de facto" central bank in Taiwan. On 8 November 1979, the newly revised Central Bank of China Act was promulgated. The Bank of Taiwan issued the New Taiwan dollar until 2000, when the Central Bank of China finally took over the task. In 2000 the English name of the Central Bank of China was renamed Central Bank of the Republic of China (Taiwan) along with a host of other renamings under the Chen Shui-bian administration of state-owned corporations with "China" in their name, such as the Chunghwa Post.The headquarters building is accessible within walking distance north-west from Chiang Kai-shek Memorial Hall MRT station of the Taipei Metro.
Yuan (currency)
As the communist forces took control of most of China, they introduced a new currency, in banknote form only, denominated in yuan. This became the sole currency of mainland China at the end of the civil war. A new yuan was introduced in 1955 at a rate of 10,000 old yuan = 1 new yuan, known as the renminbi yuan. It is the currency of the People's Republic of China to this day.
Thai baht
The baht (; , ; sign: ฿; code: THB) is the official currency of Thailand. It is subdivided into 100 "satang" (, ). The issuance of currency is the responsibility of the Bank of Thailand.
Economic history of Taiwan
Facing the economic pressure, the Kuomintang regime established several economic plans and policies. Of primary importance for the long-run growth of this economy was the commitment to education, beginning with universal elementary education, expanded to upper level schooling as basic levels of literacy were attained. The New Taiwan dollars were issued to replace the Old Taiwan dollars. Successful land reform also took place, enabled by the KMT's interesting role as recent immigrants, and not vested landowners. In addition, the United States aid also helped the reformation of Taiwan's economy.
TaiwanMoney Card
TaiwanMoney Card is a contactless Smart card in use in seven cities centred on the southern Taiwanese city of Kaohsiung.
It is a combined credit card, electronic purse and public transport payment card being the first such card when it was rolled out by its providers (MasterCard, Cathay United Bank and Acer e-Service) in June 2006.
Cayman Islands dollar
The Cayman Islands Dollar (currency code "KYD") is the currency of the Cayman Islands. It is abbreviated with the dollar sign "$", or alternatively "CI$" to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. It is the 9th-highest-valued currency unit in the world, .
Australian dollar
The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including its external territories Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru, and Tuvalu. The Australian dollar was legal tender of Papua New Guinea until 1 January 1976, when the Papua New Guinean kina became the sole legal tender. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.
Niue dollar
Niue, a country in free association with New Zealand, uses only one official legal tender currency, which is the New Zealand dollar.
Shengbao (currency)
The currency of the Taiping Heavenly Kingdom () consisted of Chinese cash coins and paper money, although the rarity of surviving Taiping paper money suggests that not much was produced. The first cash coins of the Taiping Heavenly Kingdom were issued in the year 1853 in the capital of Tianjing (present day Nanjing). The cash coins of the Taiping Heavenly Kingdom should not be confused with the Taiping Tongbao (太平通寳) which was issued during the Northern Song dynasty between the years 976 and 997, or with any other contemporary rebel coinage that also bear this inscription.
Foreign relations of Taiwan
In 2011 WikiLeaks revealed that Taiwan had been paying a "monthly stipend" to Nauruan government ministers in exchange for their continued support, as well as a smaller sum to other Members of Parliament, as "project funding that requires minimal accounting". Reporting on the story, the "Brisbane Times" wrote: "One MP reportedly used his Taiwanese stipend to buy daily breakfast for all schoolchildren in his district, while others were happy to just pocket the cash". A "former Australian diplomat with close knowledge of politics in Nauru" stated that Nauruan President Marcus Stephen, Foreign Minister Kieren Keke and former President Ludwig Scotty, among others, had all accepted "under the counter" funding from Taiwan. The leaks revealed that "Chinese [PRC] agents had also sought to influence Nauru's elections through cash payments to voters, with at least $40,000 distributed in one instance in 2007".
Bank of Taiwan
The Bank of Taiwan (BOT, , see below) is a commercial bank headquartered in Taipei, Taiwan. It is administered and owned by the Executive Yuan of Taiwan.
Fen (currency)
Fen (), is a unit of currency used in Greater China, including People's Republic of China, Republic of China (Taiwan), One fen is equal to one-hundredth of a yuan or tenth of a Chinese jiao.
Tanga (currency)
The Tanga was legal currency in Tajikistan between 10 May 1995 and 29 October 2000 and was worth one hundredth of a Tajikistani ruble. No coins or banknotes were ever issued denominated in Tanga.
Coin wrapper
Currency: Romanian leu
Currency: Serbian dinar
Currency: Singaporean dollar
Currency: South Korean won
Currency: Swedish krona
Currency: Swiss franc
Currency: New Taiwan dollar
Currency: Thai baht
Currency: Ukrainian hryvnia
Currency: United States dollar
Each denomination has a different amount found in a roll and are color-coded by denomination. See below:
Economy of Papua New Guinea
The currency of Papua New Guinean, issued by the BPNG, is the kina, which was introduced on 19 April 1975 to replace the Australian dollar.
Economy of Macau
Each pataca divides into 100 avos. Coins are issued in 10, 20, and 50 avos and 1, 2, 5, and 10 patacas (2 and 10 patacas coins are rarely used in the territory); notes are in 5, 10, 20, 50, 100, 500, and 1000 pataca denominations. Hong Kong dollar is freely used and accounts for more than half of the total deposits in Macau's banks. In addition, Chinese yuan is also widely accepted. Two banks issue currency: the Banco Nacional Ultramarino and the Bank of China (starting from October 1995).
The historical exchange rates between the pataca and the US dollar (USD) are given below.
In 2011, Macau's free-market economy produced total exports of US$1.119 billion (MOP 8.94 billion) and consisted mainly of clothing, textiles, footwear, toys, electronics, machinery and parts. Total imports for the same period reached US$8.926 billion (MOP 71.32 billion), and consisted mostly of raw materials and semi-manufactured goods, consumer goods (foodstuffs, beverages, tobacco), capital goods, mineral fuels and oils. Macau's primary export partner in 2011 was Hong Kong (44.6%). Other exports go to Mainland China (15.9%) and United States (7.9%). Macau import partners are Mainland China (30.4%), Hong Kong (12%), France (10.4%), Switzerland (7.5%), Italy (7.5%), Japan (6.2%), and United States (6.1%).
Thái Bình Hưng Bảo
Prior to the introduction of the Thái Bình Hưng Bảo Vietnam did not have its own currency in circulation as Vietnam was in a chaotic state during the Anarchy of the 12 Warlords where rival factions constantly fought each other, it wasn’t until Vietnam got unified under the Đinh dynasty that there was a central government in place with the authority to issue a national currency, the first Thái Bình Hưng Bảo cash coins had the reverse inscription "丁" (Đinh), which was the name of the dynasty. Numismatists have concluded that this coin was mostly used domestically as Vietnam didn't engage in much maritime trade at the time with the only written record of trade with foreign merchants being in 976 in Hoa Lư along the Hoàng Long river. The presence of contemporary native Vietnamese mints is notably absent in the historical records of Vietnam, however Chinese records confirm that the Đinh dynasty did issue Thái Bình Hưng Bảo coins. Despite issuing its own currency now the Vietnamese economy was still mostly based on barter at the time with Chinese currency mostly circulating in the border area, and although the succeeding Thiên Phúc Trấn Bảo (天福鎮寶) cash coins were more widely produced and circulated more it wasn't until the Later Lê dynasty that the Vietnamese economy became a currency-based economy.
Tuvaluan dollar
Since 1966, the official currency of Tuvalu is the Australian dollar, with Australian banknotes having been in use prior to and after independence. 1, 2, 5, and 10 dollar notes were originally the only denominations sent, but higher denominations have since come into use. However, after independence was achieved, the $1 note was withdrawn from circulation to encourage use of the dollar coin.
Fifth series of the new Taiwan dollar banknote
The NT$200 banknote was first issued on 2 January 2002 for general circulation. De facto this banknote does not appear common to the public, possibly due to Chiang's unpopularity with DPP lawmakers at the time its introduction and the unfamiliarity with this new denomination.
Economy of Taiwan
The national economy of Taiwan (officially known as Republic of China), is the 7th largest economy in Asia, and is included in the advanced economies group by the International Monetary Fund and gauged in the high-income economies group by the World Bank, and ranked 15th in the world by the Global Competitiveness Report of World Economic Forum, has a developed capitalist economy that ranks as the 22nd-largest in the world by purchasing power parity (PPP), ranks as 18th in the world by gross domestic product (GDP) at purchasing power parity per capita (person), and 24th in nominal GDP of investment and foreign trade by the Republic of China (Taiwan) government, commonly referred to as Taiwan. As of 2018, telecommunication, financial services and utility services are three highest individuals paid sectors in Taiwan. The economy of Taiwan ranks the highest in Asia for 2015 Global Entrepreneurship Index (GEI) for specific strengths. Most large government-owned banks and industrial firms have been privatized, and now family owned businesses are the streamlined economic factors in Taiwan. With the technocracy-centered economic planning under martial law until 1987, real growth in GDP has averaged about 8% during the past three decades. Exports have grown even faster and since World War II, have provided the primary impetus for industrialization. Inflation and unemployment are low; the trade surplus is substantial; and foreign reserves are the world's fourth largest. Agriculture contributes 3% to GDP, down from 35% in 1952, and the service sector makes up 73% of the economy. Traditional labor-intensive industries are steadily being moved off-shore and replaced with more capital- and technology-intensive industries in the pre-mature stage of the manufacturing industry in the global economic competitions on labor cost (hey performance indicator), automation (industry 4.0), product design realization (prototype), technology commercialization (innovation with knowledge/practical stickiness), scientific materialization (patent), scientific discovery (scientific findings from "empirical" scientific method), and growing from the over-reliance from the original equipment manufacturer and original design manufacturer models, in which there is no single University from Taiwan entering Reuter's Global Top Innovative 100 University ranking, and the economy of Taiwan may need international collaboration on University, Research and Industrial cooperation on spin-off opportunities. Economy of Taiwan is an indispensable partner in the Global Value Chains of Electronics Industry. Electronic components and personal computer are two areas of international strength of Taiwan's Information Technology industry, which means the economy of Taiwan has the competitive edge on having the learning curve from advanced foreign technologies with lower cost to be produced and sold abroad. Institute for Information Industry with its international recognitions is responsible for the development of IT industry and ICT industry in Taiwan. Industrial Technology Research Institute with its global partners is the advanced research center for applied technology for the economy of Taiwan. Directorate-General of Budget, Accounting and Statistics and Ministry of Economic Affairs release major economic indicators of the economy of Taiwan. Chung-Hua Institution for Economic Research provides economic forecast at the forefront for the economy of Taiwan and authoritatively researches on the bilateral economic relations with ASEAN by The Taiwan ASEAN Studies Center (TASC). Taiwan Stock Exchange is the host to the listed companies of local industries in Taiwan with weighted financial exposures to the FTSE Taiwan Index and MSCI Taiwan Index.
Papua New Guinean kina
The kina (ISO 4217 currency code: "PGK", the currency symbol: "K") is the currency of Papua New Guinea. It is divided into 100 "toea". The kina was introduced on 19 April 1975, and circulated along with the Australian dollar until 1 January 1976, when the dollar ceased to be legal tender.
Renminbi
The ISO code for "renminbi" (which may also be used for the yuan) is CNY (an abbreviation for "Chinese yuan"), or also CNH when traded in off-shore markets such as Hong Kong. The currency is often abbreviated RMB, or indicated by the yuan sign ¥. The latter may be written CN¥ to distinguish it from other currencies with the same symbol (such as the Japanese yen). In Chinese texts the currency may also be indicated with the Chinese character for the yuan, (or informally). The renminbi is legal tender in mainland China, but not in Hong Kong or Macau. However, Renminbi is widely accepted in Hong Kong and Macau, and are easily exchanged in the two territories, with banks in Hong Kong allowing people to maintain accounts in RMB and withdraw RMB banknotes from ATM terminals.