Taiwan Currency

New Taiwan Dollar is the currency of Taiwan and it is divided into 100 cents. Taiwan provides the facility of exchanging foreign currencies and traveler’s cheques like American Express, Citibank or Thomas Cook at the government banks and some definite hotels. When such cases of currency exchange occur, receipts are given that are supposed to be presented before moving away.

Some of the major credit cards are also accepted in Taiwan like the Visa, Master Card, American Express and the Diner’s Club. The Banks in Taiwan are open from Monday to Friday. The currency that is preferred here is the US dollars. There are many ATM’s located here but all of them do not accept the international bank cards.

The exchange rates of the currency are:

TWD 1.00 = US$0.03, C$0.04, A$ 0.04, R 0.02, 0.02 Euro, NZ$ 0.04.

For local currency, there are certain import restrictions and export restrictions. The import restrictions for local currency are up to TWD 40000. The export restrictions are also up to TWD 40000 but for amount that exceeds this number, permission has to be taken from the Ministry of Finance.

In case of the foreign currencies, there are no import restrictions as such. All the passengers have to do is to make a currency declaration in pen and paper. However there are certain restrictions while exporting. Amount that is equivalent to 5000 US dollars in bank notes are allowed to be exported. But this facility is available only for passengers who are leaving Taiwan within six months.