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Former currency of Taiwan
Old Taiwan dollar
舊臺幣
(
Chinese
)
|
---|
|
Symbol
| TW$
|
---|
|
Banknotes
| 1, 5, 10, 50, 100, 500, 1000, 5000, 10 000, 100 000 dollars
|
---|
|
Date of introduction
| 1946
|
---|
Replaced
| Taiwanese yen
|
---|
Date of withdrawal
| 1949
|
---|
Replaced by
| New Taiwan dollar
|
---|
User(s)
| Taiwan Province
,
Republic of China
|
---|
|
Central bank
| Bank of Taiwan
|
---|
Website
| www
.bot
.com
.tw
|
---|
Printer
| China Engraving and Printing Works
|
---|
Website
| www
.cepp
.gov
.tw
|
---|
|
Value
| TW$40 000 =
NT$
1
|
---|
This infobox shows the latest status before this currency was rendered obsolete.
|
The
Old Taiwan dollar
was in use from 1946 to 1949, beginning shortly after Taiwan's
handover from Japan
to the
Republic of China
. The currency was issued by the
Bank of Taiwan
.
Hyperinflation
prompted the introduction of the
New Taiwan dollar
in June 1949, shortly before the
Nationalist evacuation from mainland China
in December.
History
[
edit
]
Taiwan was under
Japanese rule
from 1895 to 1945 and the colonial government of Taiwan issued
Taiwanese yen
during this period through the
Bank of Taiwan
. In 1945, after the
Japanese Empire
was defeated in
World War II
, Taiwan was handed over to the
Republic of China
(ROC). Within a year, the Nationalist government assumed control of the Bank of Taiwan and issued Taiwan dollars (also known as Taiwan Nationalist yuan or TWN) as a "provisional" replacement for the Taiwan yen at the rate of one to one. The new banknotes were initially printed in
Shanghai
, and were shipped to
Taipei
. After the Nationalists consolidated their control over Taiwan the banknotes were printed in Taipei. The currency was not subdivided (no cents), and no coins were issued.
Due to the
Chinese Civil War
in the late 1940s, Taiwan, like
China
, suffered from
hyperinflation
.
[
citation needed
]
As inflation worsened, the government issued banknotes at higher and higher denominations, up to one million yuan. Because the inflation of the Taiwan dollar was only a side effect of the inflation of the then Chinese yuan of mainland China, it depreciated at a slower rate than the currency used on the mainland.
The Taiwan dollar was replaced by the
New Taiwan dollar
on 15 June 1949, at the rate of 1 new dollar to 40,000 old dollars. The Nationalists were defeated by the Communists in December of the same year and retreated to Taiwan. The government then declared in the
Temporary Provisions Effective During the Period of Communist Rebellion
that dollars issued by the Bank of Taiwan would become the new currency in circulation.
[1]
Banknotes
[
edit
]
The
denominations
of the Old Taiwan dollar in circulation were:
Orientation
|
Value
|
Dimensions
|
Main Color
|
Description
|
Date of
|
Obverse
|
Reverse
|
printing
|
issue
|
Horizontal Style Banknotes
|
1 dollar
|
130 × 70 mm
|
Blue
|
Sun Yat-sen
,
Bank of Taiwan
, map of
Taiwan
|
Naval Battle Against the Dutch
|
1946
|
22 May 1946
|
5 dollars
|
135 × 73 mm
|
Red
|
10 dollars
|
141 × 77 mm
|
Green-Gray
|
50 dollars
|
144 × 77 mm
|
Brown
|
1 September 1946
|
100 dollars
|
154 × 82 mm
|
Green
|
500 dollars
|
158 × 84 mm
|
Red
|
17 May 1948
|
100 dollars
|
154 × 81 mm
|
Green
|
1947
|
1 February 1948
|
1000 dollars
|
158 × 86 mm
|
Blue-Gray
|
1948
|
17 May 1948
|
1000 dollars
|
Sun Yat-sen
,
Bank of Taiwan
, map of
Taiwan
,
Sugarcane
|
17 August 1948
|
10 000 dollars
|
160 × 86 mm
|
Dark Green
|
11 December 1948
|
10 000 dollars
|
143 × 67 mm
|
Red
|
Sun Yat-sen
, map of
Taiwan
|
Bank of Taiwan
|
1949
|
17 May 1949
|
100 000 dollars
|
146 × 63 mm
|
Red
|
Never
|
Vertical Style Bearer's Checks
|
5000 dollars
|
60 × 147 mm
|
Orange
|
Bank of Taiwan
|
None (unifaced)
|
None
|
3 May 1948
|
10 000 dollars
|
61 × 150 mm
|
Blue
|
1 June 1948
|
100 000 dollars
|
Red
|
3 September 1948
|
1 000 000 dollars
|
Red-Brown
|
December 1948
|
See also
[
edit
]
References
[
edit
]
External links
[
edit
]
|
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Circulating
| |
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Circulating,
but renamed
| |
---|
Defunct
| |
---|
Noncirculating
| |
---|
Conceptual
| |
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Virtual
| |
---|
Fictional
| |
---|
Private
| |
---|
See also
| |
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