The New Taiwan Dollar (symbol: NT$; currency code: TWD) is the official currency of Taiwan, issued by the Central Bank of the Republic of China (Taiwan). It is divided into 100 cents. Coins in circulation include NT$0.5, NT$1, NT$5, NT$10, NT$20, and NT$50; banknotes are issued in denominations of NT$100, NT$200, NT$500, NT$1000, and NT$2000 . Introduced on June 15, 1949, to replace the Old Taiwan Dollar, the New Taiwan Dollar was established to combat hyperinflation . Today, travelers often monitor the AUD→TWD rate when planning visits to places like Taipei 101, Taroko Gorge, or Sun Moon Lake—and balance cash and contactless payments for local experiences.