After the retrocession of Taiwan to the Republic of China in 1945, the Taiwan Provincial Governor’s Office took over the Bank of Taiwan Limited and reorganized it into the Bank of Taiwan (BOT). On May 22, 1946, the BOT issued the Taiwan dollar (now referred to as the Old Taiwan dollar).
On June 15, 1949, the Taiwan Provincial Government promulgated the “Regulations Governing the Issuance of the New Taiwan Dollar”, started a currency reform, and issued the New Taiwan dollar notes and coins.
In July 1961, the Central Bank of the Republic of China resumed its operations in Taiwan. In accordance with the regulations, the BOT was entrusted with the task of issuing currency, and the New Taiwan dollar became the
de facto national currency.
In 2000, in accordance with the “Regulations Governing the Issuance of New Taiwan Dollar by the Central Bank of the Republic of China (Taiwan)”, the Central Bank began issuing the New Taiwan dollar. The bank of issuance as inscribed on the banknotes was changed to the Central Bank, and the New Taiwan dollar officially became the national currency.
