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Taiwan - New Taiwan Dollar - Currency Guide

 

Foreign exchange guide to Taiwan and the New Taiwan Dollar (TWD)

     

THB/TWD 90-day view

THB/TWD at 0.9338 is a little below its 90-DAY average, range 0.9266 - 0.9566 .
|
1-DAY0.7% (1d)30-DAY-LOW (1d)
 
Recent THB to TWD 90-day trend

General Currency Info - New Taiwan Dollar

One Taiwan dollar is subdivided into 100 cents. Conveniently, when shopping in Taiwan, cents are rarely needed because virtually all products sold in the country are priced in whole dollars.

The official name of Taiwan’s currency is the ‘New Taiwan Dollar’, although the prefix ‘New’, which distinguishes the current currency from the original Taiwan dollar used in and prior to 1949, is used only in very formal settings, such as in legal contracts.

Taiwan’s central bank, the Central Bank of the Republic of China (Taiwan), operate a flexible exchange rate system, which means that the Taiwan dollar’s valuation is, for the most part, determined by market forces. The bank’s policy does state, however, that they will intervene in foreign exchange markets “when the market is disrupted by seasonal or irregular factors.”

Historically, the US dollar to Taiwan dollar exchange rate has met strong resistance at 35.0. Several times since the late 1990s USD/TWD has reached close to, or slightly breached, the 35.0 level, but each time the rate has reversed strongly.

Since 1990, the Taiwan dollar’s absolute lowest valuation came in March 2009 when USD/TWD reached 35.24. The currency was strongest in July 1992 when USD/TWD fell to just 24.50.

   

TWD News, Forecasts and Trends

NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of 2020 if the coronavirus comes under control.

The benchmark Taiwan dollar exchange rate, USD/TWD, has done little over the past 8 months; it continues to range between 30.5 and 31. The Taiwan dollar is worth 6 percent less against the greenback than its 2018 high.

One major currency that TWD is doing well against is the Australian dollar. TWD struck a 10-year high against the Aussie in January (21.16 per AUD), and remains close to that level in early May.

Disappointing export data (March data showed exports falling year-on-year for the fifth consecutive month) is perhaps evidence of a global tech slowdown that could put pressure on Taiwan’s currency this year due to its sensitivity to corporate earnings (high earnings create substantial capital inflows into Taiwanese equities).

Forecast: ING said in late April that it was concerned that any below-forecast sales numbers in the smart phone industry could weigh on TWD. “As such,” ING said, “against the US dollar we've revised our [year-end] TWD forecast from 30.40 to 30.95.”

The above interactive chart shows the THB to TWD exchange rate, trend and recent alerts for the last 90 days.

Thai Baht to New Taiwan Dollar - Historical Rates

THB/TWD ratePeriod
08 Sep 2020 : 0.93161 Week
16 Aug 2020 : 0.945130 Days
17 Jun 2020 : 0.951290 Days
16 Sep 2019 : 1.01241 Year
17 Sep 2015 : 0.90725 Years
18 Sep 2010 : 1.031410 Years

THB/TWD 10 year historic rates

 

฿10,000 THB
=
NT$9,338 TWD

Converted at THB/TWD interbank rate, compare Send Money and Currency Exchange exchange rates.

Thai Baht to New Taiwan Dollar - Quick Conversions

THB TWD
฿ 1 NT$ 0.9338
฿ 5 NT$ 4.6690
฿ 10 NT$ 9.3380
฿ 20 NT$ 18.68
฿ 50 NT$ 46.69
฿ 100 NT$ 93.38
฿ 250 NT$ 233.45
฿ 500 NT$ 466.90
฿ 1,000 NT$ 933.80
฿ 2,000 NT$ 1,868
฿ 5,000 NT$ 4,669
฿ 10,000 NT$ 9,338
฿ 50,000 NT$ 46,690
฿ 100,000 NT$ 93,380
More amounts
THB TWD
฿ 1.0709 NT$ 1
฿ 5.3545 NT$ 5
฿ 10.71 NT$ 10
฿ 21.42 NT$ 20
฿ 53.55 NT$ 50
฿ 107.09 NT$ 100
฿ 267.73 NT$ 250
฿ 535.45 NT$ 500
฿ 1,071 NT$ 1,000
฿ 2,142 NT$ 2,000
฿ 5,355 NT$ 5,000
฿ 10,709 NT$ 10,000
฿ 53,545 NT$ 50,000
฿ 107,090 NT$ 100,000
More amounts
 

Frequently Asked Questions

 

What currency should I use in Taiwan?

The domestic currency in Taiwan is the New Taiwan Dollar.

What is the New Taiwan Dollar currency code and symbol?

The three letter currency code for the New Taiwan Dollar is TWD — symbol is NT$.

Which countries use the New Taiwan Dollar?

It is the domestic currency in    Taiwan.

Is the New Taiwan Dollar a closed currency?

No, the New Taiwan Dollar is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Taiwan

Towering sea cliffs, marble-walled gorges and tropical forests are just the start of your journey, which could take you as far as Yushan, Taiwan's 3952m alpine roof.In Taiwan you can criss-cross mountains on colonial-era hiking trails or cycle a lone highway with the blue Pacific on one side and green volcanic arcs on the other. And if you simply want a classic landscape to enjoy, you'll find them around every corner.

Over the centuries the people have blended their way into a unique and tolerant religious culture that's often as ritual heavy as Catholicism and as wild as Santeria.Taiwanese temples (all 15,000) combine worship hall, festival venue and art house under one roof. Watch a plague boat burn at Donglong Temple, go on a pilgrimage with the Empress of Heaven, study a rooftop three-dimensional mosaic, and learn why a flag and ball have come to represent prayer.

What currency to use in Taiwan?

The currency in Taiwan is the New Taiwan Dollar (TWD or NT/NTD). It is the only currency that can be used in Taiwan, all others will not be accepted except in some duty-free shops.

Something to warned about is that most credits cards are often not accepted and many places in Taiwan. By a rule unless the place you are trying to use you card is an international chain or a very large restaurant or store, cards won't be accepted. Those that do will charge a 10% fee. As in most countries normal street vendors or night markets won't accept cards. So be sure to get some cash at the airport. It is usually possible to exchange major currencies into TWD at banks in Taiwan, many hotels and department stores do as well but usually at a worse rate. So you usually don't need to worry about how to exchange money.

When leaving Taiwan keep in mind that not all banks elsewhere in the world will exchange TWD, so if you don't want to get stuck with lots of useless TWD bills when you leave be sure to exchange your TWD into other currencies before leaving the airport.

Getting around in Taiwan.

Taiwan has two major cities, Taipei and Kaohsiung, and getting around them is easy due to their 'Mass Rapid Transit' (MRT) metro systems. They are reliable, efficient, and comfortable. All signs and ticket machines are in English, as are many signs in the stations which show directions to nearby sights. The are many signs also showing bus transfer routes.You can use the metro systems websites for excellent information and maps. Getting around Taiwan, if you want to budget then bus. The bus network runs 24 hours a day and offer comfortable routes between most cities.

Taiwan also has a high speed bullet train, one of the fastest in the world, between Taipei and Kaohsiung which travels at 300 km/hour. Other trains go most places, cities and villages, and offer a convenient and comfortable journey. Flights are available but considering how efficient and cheaper the train system is, to some the extra price may seem unnecessary, Unless of course you are going to one of the islands.

Travel tips for Taiwan.

Taiwan is a popular destination for foodies with a bustling street food culture. Taiwan is also full of little neighbourhood coffee espresso bars with their own micro-roasters many of which are very good.

Taiwan Lantern Festival – one of the biggest and best in Asia – is held every year close to Chinese New Year and attracts visitors from around the world. Blending the best of traditional lantern-making with high-tech innovation, the festival takes place in multiple locations. In PingXi, a small town about 30 kilometres from Taipei, thousands of flying lanterns are released into the night sky.

One of the most popular things to do in Taiwan. Make sure to sample the food, play some games, eat, shop for cheap stuff and oh did I mention eat? Feel free to barter which is common but if you look like a foreigner, expect to pay more.

This famous lake in Nantou county is the largest body in Taiwan and is one of the most popular tourist destinations due to the shape. The east side of the lake resembles a sun while the west side looks like a moon, hence the name and has spectacular sunrises.

 

Travel money for Taiwan

Save money and time by Ordering your New Taiwan Dollars online from Travelex, you get better rates and can pick up the TWD cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in New Taiwan Dollars otherwise you may get much worst exchange rates.

 

Sending money to Taiwan

When searching around for information on how to get a good exchange rate when sending money to Taiwan you need to start with finding out the latest New Taiwan Dollar exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

Are there limits on foreigners buying property in Taiwan?

There are no special limits on foreigners, except for Chinese, buying property in Taiwan.

Foreigners and foreign companies who purchased property after the beginning of 2016 will have to pay extra taxes on any profit when they sell. This tax will vary depending on the length of ownership.

What you can buy for...

US$500,000: Old apartment, no lift or parking.

US$1,000,000: New apartment, lift plus parking, roughly 90-110 sqm

US$5,000,000: High-end residential apartment 300-400sqm


Get a better deal for foreign transfers to Taiwan

When sending money to Taiwan it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or New Taiwan Dollar amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted TWD amount will be transfered to the recipient account you specify in Taiwan.

Use the above Send to New Taiwan Dollars calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more New Taiwan Dollars deposited into the recipient bank account and less margins and fees kept by the banks!


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