New Taiwan dollar, Currency

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 >>

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Source: FOREX Bank
Source: ECB
A currency is a unit of exchange, facilitating the transfer of goods and services. It is a form of money, where money is defined as a medium of exchange (rather than e.g. a store of value). A currency zone is a country or region in which a specific currency is the dominant medium of exchange. To facilitate trade between currency zones, there are exchange rates i.e. prices at which currencies (and the goods and services of individual currency zones) can be exchanged against each other. Currencies can be classified as either floating currencies or fixed currencies based on their exchange rate regime. In common usage, currency sometimes refers to only paper money, as in "coins and currency", but this is misleading. Coins and paper money are both forms of currency. Read more >>