Currency
If you are going to Taiwan, you need to know about currency. Important topics are Denominations, Money Customs, How Much Things Cost, and How To Get Money.
Denominations for New Taiwan Dollar (NTD) are 1, 5, 10, 20, 50, 100, 200, 500, 1000, and 2000. However, 200 and 2000 bills aren't common. 1, 5, 10, and 50 denominations come in coins.
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Fun Fact: Do you know why the Taiwanese currency is called the New Taiwan Dollar, not just the Taiwan Dollar? The reason is on June 15, 1949, the Taiwanese government released the first New Taiwan banknote to replace the original Taiwan Dollar at a conversion of 40,000 to 1!
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Money Customs
The three main things you need to know about local money are Value Added Tax (VAT), tipping, and types of money used. This may sound confusing but I will explain everything later. 1000 hours later. Hi! I’m back. Oh yeah, so about money customs…
How Much Things Cost
A typical breakfast costs around 100NT or for 30NT, you can buy a few dumplings. Lunch or dinner will cost from 80 NT to 240 NT. Expensive restaurants are more than 300 NT a person. Bottled water costs around 20 NT. For unlimited wi-fi and internet for 5 days, a SIM card costs about 300 NT. A typical taxi trip around town will be about 150 NT. Subway trips are around 25 to 50 NT. Staying at the apartment costs 1,000,000,000,000 NT a second. (Just kidding!). How To Get Money You can get money from most ATMs. You just have to check the symbol to make sure it matches with your own bank. If it does, withdraw money in NTD. 7-Eleven ATMs work for most US banks. Don’t worry that you will have a hard time getting money. You just have to press the button that says English and everything beyond that will be English, not Chinese. Another way to get money is to go to a bank to exchange US dollars for NT. Banks that offer this service have a plaque outside their door that says "Authorized Exchange". Last Updated: 6/13/14 |