Unlike other currencies such as the US Dollar and Euro, Taiwan’s currency is something that most people may have never heard about, until they decide to plan a trip to our beautiful island. So here’s a quick intro and a few useful tips for you.

A. Currency

  1. The currency name is New Taiwan Dollar, usually shortened as NTD or NT$. In Chinese, it is called “yuan”, but in our daily conversations, we just use the word “kuai”, meaning “piece” (of money).
  2. The ISO currency code is TWD.
  3. As of the writing of this article, the current exchange is approximately 1USD : 30NT.

B. Just so that you get a general idea of what price levels are like in Taiwan:

  1. a bottle of water= 15NT (US$0.50)
  2. a movie ticket= 250NT-350NT (US$8-$10)
  3. a pack of Marlboro cigarettes= 125NT (US$4.00)
  4. a bowl of beef noodle soup (one of our must-try street foods!)= 150NT (US$5.00)
  5. an all-day metro pass= 180NT (US$6.00)

C. How to make payments in Taiwan?

  1. We mostly use cash when paying for anything (unlike the US or Europe, where you can pay with a card for even just an apple!)
  2. But of course, credit cards are still widely accepted (Visa, MasterCard…), especially in malls and most restaurants.
  3. Easy Card! Super convenient for taking metros, buses, but also for paying at places like convenience stores, bookshops, cinemas, and even Starbucks! You can get one easily at 7-11 or any metro station.

D. How to get cash:

There are no moneychangers on the streets, but there are plenty of other easy ways to get cash.

  1. At the airport, there are always a few money exchange counters and banks on your way out.
  2. At any ATM, they are everywhere (and bilingual)! On the streets, in shopping malls, in front of banks and even in convenience stores like 7-11. However a withdrawal fee will be charged every time, so it is best to get enough cash for the whole trip at once.
  3. At banks, they normally open from 9am-3:30pm and are closed on weekends, so remember to go early! You will be asked to fill out a form requiring a valid local address and phone number, just write in all the info of the hotel you’re staying at.
  4. In big shopping malls (such as Taipei 101 or Sogo), however, the rates are usually not so friendly.

  • REMEMBER! Always bring your passport when you want to get cash at either of these places (except for ATMs). Oh and another thing: exchange what’s left of your cash before leaving the country, because NTD is not an easy currency to exchange especially once out of Asia!