The new Taiwan dollar is Taiwan's official currency, subdivided into 100 cents. It is issued by the Central Bank of the Republic of China. Banknotes in circulation include 100, 200, 500, 1000, and 2000 dollars, with coins in denominations of ½, 1, 5, 10, 20, and 50 dollars. History of the New Taiwan Dollar: The new Taiwan dollar was introduced in 1949 by the Taiwan Bank, replacing the old Taiwan dollar at a rate of 40,000 old dollars to one new dollar, to curb hyperinflation. Interesting Facts: In 2019, the exchange rate was approximately 30 new Taiwan dollars to one US dollar. The currency's name differs in spoken language, as it was created to preserve the Mandarin language.