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Exchanging Currency in Taiwan is a crucial task for any traveler to this destination. Particularly with the recent surge of young Vietnamese enthusiasts checking in at this beautiful island, if you're also planning a trip here, do you know where to exchange Taiwanese currency? Check out the article below for a more convenient journey.
Taiwan is a popular destination chosen by many travelers (Photo by ST)
The official currency used in Taiwan is the New Taiwan Dollar
The New Taiwan Dollar (TWD), the currency of Taiwan, is commonly known as TWD or NTD. It is entirely different from the People's Republic of China's currency, the Renminbi.
The circulating currency in Taiwan is the New Taiwan Dollar (Photo by ST)
In Taiwan, there are two types of currency in circulation: coins and banknotes. Coins come in denominations of 1, 5, 10, 20, 50 yuan, and 5 jiao. Banknotes include 50 yuan, 100 yuan, 200 yuan, 1,000 yuan, and 2,000 yuan.
The denominations of currency in Taiwan (Photo by ST)
It's worth noting that the 200 yuan and 2000 yuan denominations are relatively uncommon here. The 2000 yuan bill holds significant value, and the 200 yuan bill, with its green color symbolizing illness, weakness, and misfortune in Taiwanese culture, is rarely used.
The 200 yuan bill is infrequently used here (Photo by ST)
Taiwanese locals have a cash-centric payment habit similar to Vietnamese people. However, card payments are also widely accepted, allowing you to conveniently carry both cash and cards for transactions.
Places to Exchange Taiwanese Currency in Vietnam
Whether you want to carry all cash for your Taiwan trip or just exchange part of it, using the rest on your card, here are reputable places for Taiwanese currency exchange you can consider.
Currency Exchange in Hanoi for Taiwan Dollar
In Hanoi, head to Hà Trung Street, Lương Ngọc Quyến, where you'll find numerous currency exchange spots with comparable rates.
Currency Exchange for Taiwan Dollar in Ho Chi Minh City
If you're in Saigon, you can visit Le Thanh Ton Street in District 1 or Le Van Sy in District 3, well-known spots for currency exchange.
Alternatively, you can exchange Taiwanese currency at various bank branches. However, the procedures might be a bit complex, and the amounts exchanged may not meet the needs of travelers. The exchange rate for New Taiwan Dollar is approximately 1TWD ~ 730-750 VND, so be sure to check the rate before exchanging.
Currency Exchange in Taiwan
If you haven't exchanged currency in Vietnam, you can still do it in Taiwan. Note that banks here only accept exchanges from US dollars (USD) to New Taiwan Dollars, not directly from Vietnamese Dong to New Taiwan Dollars as in Vietnam.
Some major banks in Taiwan where you can exchange currency at the airport: Maga bank, China trust, Bank of Taiwan.
Some Tips for Traveling to Taiwan
Upon entry to Taiwan, travelers are not allowed to carry more than 60,000 TWD in cash. There is no restriction on the amount of USD, but if you carry over 10,000 USD, you need to declare it to customs upon entry. Besides USD, Hong Kong dollars are also accepted here for transactions with Taiwanese banks.
Enjoy a memorable journey in Taiwan (Photo by ST)
Additionally, you can use credit cards for expenses during your Taiwan trip at shopping centers and major stores, eliminating the need to carry a large amount of cash.
One of Taiwan's famous tourist destinations (Photo by ST)
Above are some tips to help you exchange Taiwanese currency easily, so why hesitate to pack your bags and head to this beautiful island. Wishing you an incredibly exciting exploration of Taiwan.
