women's jewelry accessories wholesale Why is it called New Taiwan dollars?
what is the conversion ratio of RMB?
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wholesale jewelry los angeles New Taiwan dollar is the legal currency of Taiwan. English is called New Taiwan Dollar, and the currency code is TWD (or NT $).
The basic unit is "circle", but it is generally written as "Yuan". 1 round = 10 horns = 100 points.
The currently issued coin units include: 5 corners, 1 yuan, 5 yuan, 10 yuan, 20 yuan, and 50 yuan. The banknotes are: 100 yuan, 200 yuan, 500 yuan, 1,000 yuan and 2000 yuan.
The predecessor of NT $ was Taiwan dollar, also known as the old Taiwan dollar, which began issued in 1945. Due to the unstable financial situation in mainland China at that time, Taiwan did not use the silver dollars and gold vouchers that were connected in mainland China at that time, and then issued NT $. However, due to the financial crisis in Shanghai in 1948, even the values of the old Taiwan currency depreciated sharply, causing Taiwan's price level to rise sharply.
In June 5, 1949, Taiwan issued NT $, and it was explicitly reserved for 40,000 yuan to exchange for NT $ 1, becoming a legal currency in Taiwan today. In addition, in response to the special needs of warfare in Kinmen and Matsu, the New Taiwan dollar Golden Gate and Matsu circulation vouchers have also issued limited circulation of these areas, which have been canceled.
The ratio of RMB and NT $ is about 1: 4.