Taiwan - Money
Currency & Money
New Taiwan Dollar (TWD; symbol NT$) = 100 cents. Notes are in denominations of NT$TWD2,000, 1,000, 500, 200 and 100. Coins are in denominations of NT$50, 20, 10, 5 and 1.
American Express, MasterCard, Visa and Diners Club are accepted in most hotels, restaurants and shops.
ATMs are found in all major towns, cities and airports and – with a few exceptions that only handle domestic accounts – are mostly compatible with international debit and credit cards. A lot of 7Eleven stores have cashpoints inside, which tend to be a safe bet for withdrawing with an international card.
Cashed in most hotels, restaurants and shops. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in US Dollars.
The import and export of local currency is limited to NT$100,000. The import and export of foreign currency amounts over US$10,000 must be declared on arrival. The import of Chinese Yuan is limited tot o RMB20,000. All exchange receipts must be retained.
All travellers are required to make a currency declaration in writing together with the baggage declaration. Unused currency can be reconverted on departure, on production of exchange receipts. Various bureaux de change are on hand to convert international currency into New Taiwan Dollars, although the rate of exchange offered by ATMs is generally more attractive. If you do need to change notes, you’ll generally have no problem if you’re holding US dollars, British pounds, Hong Kong dollars or Japanese yen. As a rule, Taiwan is pricier day-to-day than the likes of Cambodia, Thailand and Vietnam, but compares favourably to Japan and Hong Kong.
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