New Taiwan dollar

The New Taiwan dollar has been the currency of Taiwan 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 (Taiwan) since 2000. The currency code is TWD, and its common abbreviation is NT$.

Terminology

The Chinese term equivalent to "New Taiwan dollar," 新臺幣 or 新台幣, is used only in contexts where it is necessary to avoid any ambiguity, such as banking, contracts, or foreign exchange. In common usage, the unit is typically referred to as yuán. In Taiwan, the character for yuan can be written in either of two forms, an informal 元 or a formal 圓, which are interchangeable. Colloquial alternatives for the currency unit include the Mandarin kuài (塊), meaning "piece", and the Taiwanese Hokkien kho͘ (箍; literally "circle"). In English usage the new Taiwan dollar is often abbreviated as NT, NT$, NT Dollar or NTD, while the abbreviation TWD is typically used in the context of foreign exchange rates. Subdivisions of a new Taiwan dollar are rarely used, since practically all products on the consumer market are sold in whole dollars.

Taiwan dollar

Taiwan dollar can refer to either of the following:

Taiwan

Coordinates: 23°30′N 121°00′E / 23.500°N 121.000°E / 23.500; 121.000

Taiwan (ⁱ/ˌtaɪˈwɑːn/; Chinese: 臺灣 or 台灣; see below), officially the Republic of China (ROC; Chinese: 中華民國; pinyin: Zhōnghuá Mínguó), is a sovereign state in East Asia. The Republic of China, originally based in mainland China, now governs the island of Taiwan, which constitutes more than 99% of its territory, as well as Penghu, Kinmen, Matsu, and other minor islands, following its loss of the mainland China territory in 1949 in the Chinese Civil War. This remaining area is also constitutionally called the "Free area of the Republic of China" which is not ruled by the Communist Party of China in Beijing.

Neighboring states include the People's Republic of China (PRC) to the west (mainland China), Japan to the east and northeast, and the Philippines to the south. Taiwan is one of the most densely populated countries in the world with a population density of 649 people per km² in October 2015.Taipei is the seat of the central government, and together with the surrounding cities of New Taipei and Keelung forms the largest metropolitan area on the island.

Taipei

Taipei (/ˌtaɪˈpeɪ/, literally means "North of Tai(wan)"), officially known as Taipei City (Chinese: 臺北市 or 台北市; pinyin: Táiběi Shì; Pe̍h-ōe-jī: Tâi-pak Chhī), is the capital city and a special municipality of Taiwan. Sitting at the northern tip of Taiwan, Taipei City is an enclave of the municipality of New Taipei City. It is about 25 km (16 mi) southwest of the northern port city Keelung. The city is mostly located on the Taipei Basin, an ancient lakebed bounded by the two relatively narrow valleys of the Keelung and Xindian rivers, which join to form the Tamsui River along the city's western border.

The city proper is home to an estimated population of 2,693,672 in 2009, forming the core part of the Taipei–Keelung metropolitan area which includes the nearby cities of New Taipei and Keelung with a population of 6,900,273, the 40th most-populous urban area in the world. The name "Taipei" can refer either to the whole metropolitan area or the city proper.

Taipei is the political, economic, educational, and cultural center of Taiwan, and one of the major hubs of the Chinese-speaking world. Considered to be a global city, Taipei is part of a major high-tech industrial area.Railways, high-speed rail, highways, airports, and bus lines connect Taipei with all parts of the island. The city is served by two airports – Taipei Songshan and Taiwan Taoyuan. Taipei is home to various world-famous architectural or cultural landmarks which include Taipei 101, Chiang Kai-shek Memorial Hall, Dalongdong Baoan Temple, Hsing Tian Kong, Mengjia Longshan Temple, National Palace Museum, Presidential Office Building, Taipei Guest House, Ximending, and several night markets dispersing over the city. Its natural features such as Maokong, Yangmingshan, and hot springs are also well known to international visitors.

United States dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its overseas territories. It is a Federal Reserve Note and consists of 100 smaller cent units.

The U.S. dollar is fiat money. It is the currency most used in international transactions and is the world's most dominant reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and the Turks and Caicos islands. A few countries use only the U.S. Dollar for paper money, while the country mints its own coins, or also accepts U.S. coins that can be used as payment in U.S. dollars, such as the Susan B. Anthony dollar.

Overview

The Constitution of the United States of America provides that the United States Congress has the power "To coin money". Laws implementing this power are currently codified at 31 U.S.C. § 5112. Section 5112 prescribes the forms, in which the United States dollars should be issued. These coins are both designated in Section 5112 as "legal tender" in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar. The pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent to 50 dollars. These other coins are more fully described in Coins of the United States dollar.