The New Taiwan Dollar
is the official currency in Taiwan.
New Taiwan Dollar (NT$) = 100 cents.
Notes are in denominations of NT$1,000, 500, 200, 100 and 50.
Coins are in denominations of NT$50, 10, 5 and 1, and 50 cents.
Currency exchange
It is essential for all travellers to make a currency declaration
in writing together with the baggage declaration. Unused currency
can be reconverted on departure, on production of exchange receipts.
Credit & debit cards
Credit and Debit cards are accepted in most restaurants, hotels
and shops.
Traveller's cheques
Traveller's cheques are accepted in most hotels, restaurants and
shops. To avoid any additional exchange rate charges, travellers
are advised to take traveller's cheques in US Dollars.
Exchange rate indicators
The following figures should be perceived as a guide to the movements
of the New Taiwan Dollar against the US Dollar and British Pounds Sterling:
Date
Oct'07
UK£1.00=
66.59
US$1.00=
32.45
Currency restrictions
The import and export of local currency is limited to NT$40,000
and authorization from the Ministry of Finance is required for amounts
over NT$8000. The import and export of foreign currency is unlimited,
although amounts over US$10,000 have to be declared on arrival.
All exchange receipts must be retained.
