Taiwan New Dollar

Taiwan New Dollar

New Taiwan dollar (Chinese: 新臺幣; pinyin: xīn tái bì; sign: NT$; code: TWD) is the official currency of the Republic of China used in the Taiwan and its surrounding islands. It is subdivided into ten jiao (Chinese: 角; pinyin: jiǎo), each of ten fen (Chinese: 分; pinyin: fēn) or cents, although cents are rarely used in practice. The New Taiwan dollars has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar, at a rate of 40,000 old dollars per NT$. In Mandarin, the unit of the dollar is referred to as "元" or "圓" (pinyin: yuán). Since the year 2000, the Central Bank of the Republic of China (Taiwan) is the central bank of Taiwan, which currently issues the New Taiwan dollar. While the Bank of Taiwan issued banknotes prior to 2000, it was also the de facto central bank between 1949 and 1961.

Chinese Yuan Renminbi

Chinese Yuan Renminbi

The renminbi (Ab.: RMB; simplified Chinese: 人民币; traditional Chinese: 人民幣; pinyin: rénmínbì; literally: "people's currency"; sign: 元; code: CNY) is the official currency of the People's Republic of China. The yuan (Chinese: 元; pinyin: yuán) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts where "Chinese yuan" is widely used to refer to the renminbi. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao (Chinese: 角; pinyin: jiǎo), and a jiao in turn is subdivided into 10 fen (Chinese: 分; pinyin: fēn). The renminbi is issued by the People's Bank of China, the monetary authority of China.Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its transition from central planning to a market economy, and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity. More recently, however, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the American Federal Reserve and other major central banks, have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012. Since 2006, the renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013, and 5th by 2015.On 1 October 2016, the RMB became the first emerging market currency to be included in the IMF's special drawing rights basket, the basket of currencies used by the IMF (reserve currency).

4 Taiwan New Dollar to Chinese Yuan Renminbi exchange rates chart

4 TWD to CNY exchange rates graph
4 TWD to CNY Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

4 TWD to CNY exchange rates table

Exchange TWD to CNY
4 Taiwan New Dollar = 0.896 Chinese Yuan Renminbi
8 Taiwan New Dollar = 1.793 Chinese Yuan Renminbi
20 Taiwan New Dollar = 4.482 Chinese Yuan Renminbi
40 Taiwan New Dollar = 8.964 Chinese Yuan Renminbi
Exchange Taiwan New Dollar to Chinese Yuan Renminbi
4 Taiwan New Dollar to Chinese Yuan Renminbi Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

Best TWD/CNY rate at Bank of China in Shanghai

4 TWD to CNY exchange rates at Bank of China in Shanghai
4 Taiwan New Dollar = 0.860 Chinese Yuan Renminbi
Bank of China
Bank of China

Bank of China was formally established in February 1912 following the approval of Dr. Sun Yat-sen. From 1912 to 1949, the Bank served consecutively as the country’s central bank, international exchange bank and specialised international trade bank. Fulfilling its commitment to serving the public and developing China’s financial services sector, the Bank rose to a leading position in the Chinese financial industry and developed a good standing in the international financial community, despite...

Best TWD/CNY rate at Bank of Taiwan in Taipei

4 TWD to CNY exchange rates at Bank of Taiwan in Taipei
4 Taiwan New Dollar = 0.877 Chinese Yuan Renminbi
Bank of Taiwan
Bank of Taiwan

The Bank of Taiwan (BOT) was established on May 20, 1946 as the first government-owned bank following the island's restoration to the Republic of China in 1945. During much of its operating history, it has been under the administration of the Taiwan Provincial Government. Following the phase out of the Taiwan Provincial Government on Dec. 21, 1998, the Bank was subsequently taken over by the central government of the Republic of China and placed under the administration of the Ministry of...

Best TWD/CNY rate at HSBC in Taipei

4 TWD to CNY exchange rates at HSBC in Taipei
4 Taiwan New Dollar = 0.867 Chinese Yuan Renminbi
HSBC
HSBC

Established in Hong Kong and Shanghai in 1865, The Hongkong and Shanghai Banking Corporation Limited is the founding and a principal member of the HSBC Group which, with offices in 67 countries and territories is one of the world’s largest banking and financial services organisations. Its original Chinese nickname, “Wayfoong”, translates as ‘focus of wealth’ or ‘abundance of remittances’. HSBC's presence in Taiwan dates back to 1885 when The Hongkong and Shanghai Banking Corporation Limited...

Best TWD/CNY rate at DBS in Taipei

4 TWD to CNY exchange rates at DBS in Taipei
4 Taiwan New Dollar = 0.872 Chinese Yuan Renminbi
DBS
DBS

DBS Group Holdings Ltd is one of the largest financial services groups in Asia. Listed and headquartered in Singapore, DBS has operations in 18 markets with a network comprising more than 280 branches / outlets. The bank's strong capital position, as well as "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for nine consecutive years, from 2009 to 2017. In 2016, DBS is also named the World’s Best...

4 TWD to CNY exchange rates news

Asian shares skid as Huawei CFO arrest revives trade jitters

Asian shares skid as Huawei CFO arrest revives China-US trade jitters

conditional negative
Global shares slip on doubts over US-China trade deal

Global stock prices have fallen, though not as much as Wall Street the day before, amid doubts about a U.S.-China tariff cease-fire

conditional negative
Global stocks gain after Fed chief hints rate rises may slow

Most global stock markets are higher after the chairman of the Federal Reserve indicated that the pace of interest rate increases might slow.

conditional positive
US dollar rises as US-China trade talks take focus - Taipei Times

The US dollar edged higher on Friday as investors prepared for the fallout from trade talks between the US and China at the G20 meeting yesterday, which investors expect would increase volatility across markets.

conditional positive
Hedging losses weigh heavily on life insurers: FSC - Taipei Times

Net foreign-exchange losses for local life insurance companies totaled NT$178.2 billion (US$5.77 billion) in the first 10 months of the year, up 21.6 percent from the same period last year, due to an increase in hedging losses, the Financial Supervisory Commission (FSC) said on Thursday last week.

conditional neutral
Tesla says cuts price for Model X, S in China

BEIJING/SHANGHAI (Reuters) - Tesla Inc is...

conditional neutral

4 TWD to CNY currency converter