Local Currency in Taiwan

Dollars? Rupees? Yuan? Baht? Riyals? Euros? Pounds?
What is your local currency called and what is it worth?

The money of Taiwan has a variety of names. Most frequently informally referred to simply as yuan, the New Taiwan dollar/ 新臺幣/xin tai bi, has been used since 1949. (At the hyperlinks you can hear what these words sound like by clicking on the little speaker button!)

The New Taiwan dollar’s official abbreviation is TWD but often abbreviated to NT$.


(Read more…)Taiwan Currency


Taiwanese money is issued in NT$100, NT$200, NT$500, NT$1000, and NT$2000 banknotes, and NT$1/2, NT$1, NT$5, NT$10, NT$20, NT$50 coins.

Cost of Living:

.33 liter bottle of water: 19.13 NT$

Cappuccino: 72.03 NT$

Domestic beer: 50 NT$

.33 liter bottle of Coke: 27.46 NT$

1 liter of milk: 78.73 NT$

Loaf of white bread: 46.43 NT$

For a current exchange rate visit xe.com

Accessing your money abroad:

We recommend using your banking card (ATM/debit) from your U.S. bank. Using ATM cards enables you to access your own personal bank account from any ATM machine around the world. The primary advantages of getting money from an ATM are 24-hour access and preferential exchange rates.

Check with your bank to make sure you can use your card overseas, and to inform them that you will be living abroad. Give them your dates, and all the countries you anticipate traveling to. It is not uncommon to be cut off from your bank account after using your card abroad, even after giving them forewarning. If this happens, don’t panic! Banks do this to protect their clients, and we should be grateful! If this happens to you, you just need to contact your bank to ensure them that you are in possession of your card and that you need to have access to your account while you are abroad. If you have a shared account with a family member and their name is also on the account, sometimes it’s helpful to get word to them to call the bank for you, considering the time difference between countries.

In order to withdraw cash from an ATM using a debit or credit card, you must have a 4-digit pin. While you’re most likely very familiar with your debit PIN, you might not know a PIN for your credit card. Be sure to ask before you travel, banks will not release this information over the phone, via text, through an email or in any other way than to mail your PIN to the mailing address associated with your account.

It is a good idea to have both options available – an ATM card and a credit card – just in case of an emergency. When you use your bank card, the ATM machine will automatically convert the money into the local currency for you. Please ask your bank about their fees associated with international transactions, they may charge you anywhere from $5.00 to $7.00 per transaction, and that adds up.