Taiwan New Dollar

The New Taiwan dollar (新臺幣) (currency code : TWD and common abbreviation : NT$), or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China (ROC) since 1949, when it replaced the Old Taiwan dollar. Originally issued by the Bank of Taiwan, it has been issued by the Central Bank of the Republic of China since 2000.

History
The New Taiwan dollar was first issued by the Bank of Taiwan on June 15, 1949, to replace the Old Taiwan dollar at a 40,000-to-1 ratio. The first goal of the New Taiwan dollar was to end the hyperinflation that had plagued Taiwan and Mainland China due to the Chinese civil war fought in mainland China.
Even though the Taiwan dollar was the de facto currency of Taiwan, for years the old Chinese Nationalist yuan was still the official national currency of the Republic of China. According to the "Regulation of exchange rate between New Taiwan Dollars and the fiat currency in the ROC laws" ("現行法規所定貨幣單位折算新臺幣條例"), the exchange rate is fixed at 3 TWD per 1 silver yuan and has never been changed despite decades of inflation. Despite the silver yuan being the primary legal tender currency, it was impossible to buy, sell, or use it, so it effectively did not exist to the public.
In July 2000, the New Taiwan dollar became the official currency of the ROC and is no longer secondary to the silver yuan. At the same time, the Central Bank of China began issuing New Taiwan dollar banknotes directly and the old notes issued by the Bank of Taiwan were taken out of circulation.

Coins
Frequently used : $1, $5, $10, $50
Rarely used : $20

- $1 : Obverse = Chiang Kai-shek, "中華民國XX年"
Reverse = value
- $5 : Obverse = Chiang Kai-shek, "中華民國XX年"
Reverse = value
- $10 : Obverse = Chiang Kai-shek, "中華民國XX年"
Reverse = value
- $50 : Obverse = Sun Yat-sen, "中華民國XX年"
Reverse = latent images of both Chinese and Arabic numerals for 50

Banknotes
Frequently used : $100, $500, $1000
Rarely used : $200, $2000

- $100 : Obverse = Sun Yat-sen, "The Chapter of Great Harmony" by Confucius
Reverse = Chung-Shan Building
Watermark = Mei flower and numeral 100
- $500 : Obverse = Youth baseball
Reverse = Formosan Sika Deer and Dabajian Mountain
Watermark = Bamboo and numeral 500
- $1000 : Obverse = Elementary Education
Reverse = Mikado Pheasant and Jade Mountain
Watermark = Chrysanthemum and numeral 1000