2019-04-03 Wed

Taiwan, officially the Republic of China, is a state in East Asia. Neighboring states include the People's Republic of China to the west, Japan to the northeast, and the Philippines to the south. Taiwan is the most populous state and largest economy that is not a member of the United Nations.

Taiwan is a high-income advanced economy, with a highly skilled and educated workforce. It has the 22nd-largest economy in the world, and its high-tech industry plays a key role in the global economy. It is highly urbanized and is one of the most densely populated countries in the world.

The New Taiwan dollar is the official currency of the Republic of China (ROC) used in the Taiwan Area. The New Taiwan dollars has been the currency of Taiwan since 1949 when it replaced the Old Taiwan dollar. Since the year 2000, the Central Bank of the Republic of China (Taiwan) is the central bank of Taiwan, which currently issues the New Taiwan dollar. While the Bank of Taiwan issued banknotes prior to 2000, it was also the de facto central bank between 1949 and 1961.

The Bank of Taiwan issued new Taiwan dollar banknotes in 8 different denominations, including the 50 New Taiwan Dollars banknote (1999 Commemorative issue) depicted in the image alongside. They are part of the withdrawn New Taiwan Dollar banknotes series.

Interesting this polymer 50 yuan or new Taiwan dollar banknote commemorates 50 years of the new Taiwan dollar, introduced in 1949. It is also the only banknote to feature an image of banknotes as part of its design!

Image Courtesy: leftovercurrency.com