The New Taiwan dollar (新臺幣 or 新台幣) (currency code TWD and common abbreviation NT$), or simply Taiwan dollar, is the official currency of the Republic of China (Taiwan) since 2000, although it has been in circulation since 1949. Originally issued by the Bank of Taiwan, it is now issued by the Central Bank of China. Although the official English word for the currency is dollar, in Mandarin it is known as yuan (as with Chinese numerals, this character has two forms — an informal form 元 and a formal form 圓 used to prevent alterations and accounting mistakes). Colloquially, it is called a kuài (塊 lit. piece; Taiwanese: kho· 箍). Subdivisions of a yuan are rarely used, since practically all products on the consumer market are being sold at whole units of yuan. Read more
Interested in trading currencies? Try Forex Trading today!