TAIWAN DOLLAR Meaning and
Definition
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The Taiwan Dollar, denoted by the currency code TWD, is the official currency of the Republic of China (commonly known as Taiwan). Also known as the New Taiwan Dollar (NTD), it has been the currency of Taiwan since 1949, following the retreat of the Chinese Nationalist Party (Kuomintang) to the island after losing the Chinese civil war to the Communists.
The Taiwan Dollar is subdivided into 100 cents and is issued by the Central Bank of the Republic of China. The bank regulates and manages the currency, ensuring its stability in the financial market. The Taiwan Dollar is frequently represented by the symbol "NT$" or simply "$".
The value of the Taiwan Dollar fluctuates against other major currencies, often influenced by economic policies, international trade, and market forces. Currently, it is a free-floating currency, which means its exchange rate is determined by supply and demand in the foreign exchange market.
As Taiwan is a highly developed and export-oriented economy, the Taiwan Dollar plays a crucial role in enabling commerce and trade within the country and with international partners. It serves as a medium of exchange, facilitating the purchase of goods and services, and also as a unit of account, providing a standardized value for reference.
Overall, the Taiwan Dollar represents the monetary system of Taiwan, offering financial stability and functionality for the economy, individuals, and businesses operating within the country.
Common Misspellings for TAIWAN DOLLAR
- raiwan dollar
- faiwan dollar
- gaiwan dollar
- yaiwan dollar
- 6aiwan dollar
- 5aiwan dollar
- tziwan dollar
- tsiwan dollar
- twiwan dollar
- tqiwan dollar
- tauwan dollar
- tajwan dollar
- takwan dollar
- taowan dollar
- ta9wan dollar
- ta8wan dollar
- taiqan dollar
- taiaan dollar
- taisan dollar
Etymology of TAIWAN DOLLAR
The word "Taiwan Dollar" is derived from two sources: "Taiwan" and "dollar".
1. Taiwan: The name "Taiwan" refers to an island located in East Asia. It was originally inhabited by indigenous peoples and later colonized by various nations, including the Dutch, Spanish, and Japanese. The name "Taiwan" itself has various interpretations. One theory suggests that it derives from the indigenous word "Tayouan", meaning "the plains". Another theory links it to the Portuguese term "Ilha Formosa", which means "beautiful island". After World War II, Taiwan came under the control of the Republic of China, and it has been operating as a separate entity with its own government and currency.
2. Dollar: The term "dollar" has a long history and originates from the word "thaler" or "taler".
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