Taiwan Currency and Exchange Tips for Travelers

What Is the New Taiwan Dollar?

The New Taiwan Dollar (TWD), written as NT$ or simply NT, is the official currency issued by the Central Bank of the Republic of China (Taiwan). It is the only legal tender used in Taiwan and is widely accepted across the country.

The name “New Taiwan Dollar” distinguishes it from the old Taiwan Dollar used before 1949. Modern Taiwanese banknotes include strong anti-counterfeiting security features such as holographic strips, watermarks, and color-shifting ink.

Bills are available in NT$100, NT$200, NT$500, NT$1,000, and NT$2,000. Coins come in NT$1, NT$5, NT$10, NT$20, and NT$50 denominations. The NT$200 and NT$2,000 notes are less commonly seen but remain in circulation.

Taiwanese currency highlights important historical and cultural figures. The NT$100 features Sun Yat-sen, the NT$500 features Chiang Kai-shek, and the NT$1,000 features Chiang Ching-kuo. Other notes showcase educational and scientific themes that reflect Taiwan’s emphasis on innovation and development.

The New Taiwan Dollar is fully convertible, and Taiwan maintains a stable monetary system supported by a strong export-driven economy.

Exchange Rates and Where to Exchange

Exchange rates fluctuate daily based on global currency markets. In recent years, 1 U.S. dollar has generally ranged between NT$30–32. For the most up-to-date official exchange rates, you can check the Bank of Taiwan exchange rate page.

Taiwan offers many safe and convenient locations to exchange currency:

• International Airports: At Taiwan Taoyuan International Airport, currency exchange counters are available immediately after arrival. Rates are generally competitive, making it convenient to exchange a small amount upon landing.
• Major Banks: Institutions such as Taiwan Cooperative Bank, First Commercial Bank, and Mega Bank provide reliable exchange services with transparent pricing.
• Licensed Money Changers: Officially registered exchange providers sometimes offer slightly better rates due to lower overhead costs. Always confirm that the location is properly licensed.
• ATMs: International cards can withdraw NT$ directly at most ATMs, often at competitive interbank rates.

Hotels may exchange small amounts but usually at less favorable rates.

Cashless Payments and ATMs

Taiwan is one of Asia’s most advanced destinations for cashless transactions. Digital payments are widely accepted in urban areas.

Mobile systems such as LINE Pay, JKOPay, and Apple Pay are commonly used in convenience stores, restaurants, department stores, and even public transportation systems.

International credit cards including Visa, Mastercard, American Express, and JCB are accepted in most hotels and larger retailers. Contactless “tap-to-pay” terminals are widely available.

ATMs are easily accessible across Taiwan. Major banks such as Cathay United Bank and Taiwan Cooperative Bank provide 24-hour ATM access with English-language interfaces. Convenience store ATMs—especially in 7-Eleven and Family Mart—are particularly traveler-friendly and accept many international debit and credit cards.

Daily withdrawal limits typically range between NT$20,000–50,000 depending on your bank’s international policy. Always confirm foreign transaction fees before traveling.

Medical Costs and Transparent Pricing

Taiwan’s healthcare system is internationally recognized for its affordability, efficiency, and advanced medical technology. According to Taiwan’s Ministry of Health and Welfare, the country maintains high medical standards supported by modern infrastructure and skilled healthcare professionals.

Medical pricing in Taiwan is transparent. Clinics and hospitals provide clear quotations before procedures, allowing international patients to understand costs in advance.

Examples of typical private healthcare costs:

• Full-body MRI: NT$15,000–25,000 (approximately US$480–800)
• Comprehensive blood test packages: NT$3,000–8,000 (US$95–255)
• Dental cleaning: NT$1,000–2,000 (US$30–65)

These prices are significantly lower than equivalent services in the United States or Europe while maintaining international medical standards.

Most clinics accept cash, international credit cards, and mobile payments. Many hospitals assist with international insurance documentation for reimbursement claims.

Final Thoughts

Taiwan’s financial system is stable, transparent, and traveler-friendly. The New Taiwan Dollar is easy to use, currency exchange services are widely available, and digital payments are accepted almost everywhere.

With reliable banking infrastructure, competitive exchange rates, and affordable healthcare services, Taiwan offers both financial convenience and medical value for international visitors.