Old Taiwan dollar
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| User(s) | Taiwan (province of Republic of China) |
| Coins | None |
| Banknotes | 1, 5, 10, 50, 100, 500, 1000, 5000, 10 000, 100 000 dollars |
| Central bank | Bank of Taiwan |
| Website | www.bot.com.tw |
| Printer | China Engraving and Printing Works |
| Website | www.cepp.gov.tw |
| This infobox shows the latest status before this currency was rendered obsolete. | |
The Old Taiwan dollar (舊臺幣 or 舊台幣), sometimes called Old Taiwan yuan, was the currency of Taiwan, Republic of China from 1946 to 1949. It was issued by the Bank of Taiwan.
Contents |
[edit] History of the Old Taiwan dollar
Image:Taiwan-1M-Yuan.jpg Taiwan was under Japanese colonization before 1945 due to the Treaty of Shimonoseki (1895). Taiwan used Taiwan yen during this period.
In 1945, after Japan was defeated World War II, Taiwan was returned to China, at the time ruled by the government of the Republic of China (ROC). Within a year, the ROC government resumed the duty over the Bank of Taiwan and issued Taiwan dollars (also known as Taiwan Nationalist yuan or TWN) as a "provisional" replacement for the Japanese Taiwan yen at the rate of one to one. The new banknotes were initially printed in Shanghai, and were shipped to Taipei. In the later years, the banknotes were printed in Taipei.
Due to the Chinese Civil War, Taiwan like Mainland China suffered severe inflation in the late 1940s. As inflation worsened, the government issued banknotes at higher and higher denominations, up to one million yuan, to handle the inflation on the island. Because the inflation of the Old Taiwan dollar was only a side effect of the inflation of gold yuan and silver yuan on Mainland, it had depreciated at a slower rate than the gold yuan and silver yuan.
The old dollar was replaced by the new dollar on June 15, 1949 at the rate of 1 new dollar = 40,000 old dollars. The ROC Nationalists were defeated by the communists in the same year and retreated to Taiwan. Inflation stabilized afterwards.
[edit] Coins
No coins were issued.
[edit] Banknotes
The denominations of the Old Taiwan dollar in circulation were
| Horizontal Style Banknotes | ||||||
|---|---|---|---|---|---|---|
| Value | Dimensions | Main Color | Description | Date of | ||
| Obverse | Reverse | printing | issue | |||
| 1 dollar | 130 x 70 mm | Blue | Sun Yat-sen, Bank of Taiwan, map of Taiwan | Naval Battle Against the Dutch | 1946 | May 22, 1946 |
| 5 dollars | 135 x 73 mm | Red | ||||
| 10 dollars | 141 x 77 mm | Green-Gray | ||||
| 50 dollars | 144 x 77 mm | Brown | September 1, 1946 | |||
| 100 dollars | 154 x 82 mm | Green | ||||
| 500 dollars | 158 x 84 mm | Red | May 17, 1948 | |||
| 100 dollars | 154 x 81 mm | Green | 1947 | February 1, 1948 | ||
| 1000 dollars | 158 x 86 mm | Blue-Gray | 1948 | May 17, 1948 | ||
| 1000 dollars | Sun Yat-sen, Bank of Taiwan, map of Taiwan, Sugarcane | August 17, 1948 | ||||
| 10 000 dollars | 160 x 86 mm | Dark Green | December 11, 1948 | |||
| 10 000 dollars | 143 x 67 mm | Red | Sun Yat-sen, map of Taiwan | Bank of Taiwan | 1949 | May 17, 1949 |
| 100 000 dollars | 146 x 63 mm | Red | Never | |||
| Vertical Style Bearer's Checks | ||||||
| 5000 dollars | 60 x 147 mm | Orange | Bank of Taiwan | None (unifaced) | None | May 3, 1948 |
| 10 000 dollars | 61 x 150 mm | Blue | June 1, 1948 | |||
| 100 000 dollars | Red | September 3, 1948 | ||||
| 1 000 000 dollars | Red-Brown | December, 1948 | ||||
[edit] See also
[edit] External links
- Currency Issuance — Central Bank of China
- Sinobanknote
- Virginia Sheng, "Notes from a Small Island", Taipei Review, September 1, 2000
- Chuang Chi-ting, "Legislator pans new bank notes", Taipei Times, February 17, 2001
- History of Taiwan currency
- The Taiwanese hyperinflation and stabilization of 1945 - 1952
- Kurt Schuler, Tables of Modern Monetary History: Asia
| Preceded by: Taiwan yen Reason: Administration of Taiwan transferred to Republic of China Ratio: at par | Currency of Province of Taiwan of the Republic of China 1946 – 1949 Note: Taiwan dollar was initially intended to be a temporary and local currency | Succeeded by: New Taiwan dollar Reason: inflation Ratio: 1 new dollar = 40,000 old dollars |
