Taiwan is an Eastern Asian country that lies in the western Pacific Ocean, about 160 kilometers from the southernmost tip of China. This island nation was formerly known as Formosa and is bounded by the East China Sea, the Ryukyu Islands of Japan, the Bashi Channel, the vast expanse of the Pacific Ocean, and the Taiwanese Strait. Its maritime borders are shared with Japan, the People’s Republic of China, and The Philippines. It is mostly covered with mountain ranges. In the early 17th century, the nation was a protectorate of the Netherlands for about 40 years. Later, China took control and ruled the country for two centuries, and in 1895, Taiwan was given up to Japan. Later on, the Republic of China took over the nation on behalf of the World War II Allies.
The New Taiwanese Dollar
Since 1949, the New Taiwanese dollar (TWD) has been the country’s official currency, replacing the Old Taiwan dollar. Its basic unit is the yuan which is divided into ten jiao. The Central Bank of Taiwan is responsible for issuing New Taiwan Dollar banknotes since 2000. The Bank of Taiwan was a de facto central bank from 1949 until 1961 when it issued notes as central bank delegate.
The Recent Issues
The recent series of Taiwanese banknotes has cultural themes and feature prominent personalities, buildings, landscapes, fauna, and infrastructures. These paper bills are in 100, 200, 500, 1000, and 2000 New Taiwan dollar denominations, although the 200 and 2000 NTD are not commonly used.
In 2011, a Taiwanese 100-dollar circulating banknote was launched by the Central Bank of the Republic of China to commemorate the 100th anniversary of the founding of the Republic of China. This red banknote bears a portrait of Dr. Sun Yat-sen on its obverse design while the back features the Chung-Shan building. It also bears text that reads “Celebrating 100 years since the founding of the Republic of China.”