| Commemorating 50 years of issuing New Taiwan
Dollars Issued 28/11/1999 | ||
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| Central Bank Golden Jubilee | ||
| The Bank of Taiwan is a government-owned bank in Taipei City, Republic of China (Taiwan). The Bank of Taiwan was first established in 1899 as Central Bank of Taiwan during the Japanese rule. After the Japanese surrender in 1945, the ROC government took over the Bank of Taiwan and issued the old Taiwan dollars, also known as Taiwan Nationalist Yuan, through the Bank of Taiwan. Later in 1949, the Bank of Taiwan issued the New Taiwan dollar to curb the severe deflation of the value of old Taiwan dollars. After the loss of the mainland in the Chinese Civil War by the Nationalists (Kuomintang) and its subsequent retreat to Taiwan, the Bank of Taiwan took on a more central role as the central bank of the ROC until the Central Bank of China was reestablished in 1961. The Bank of Taiwan was governed under the Taiwan Provincial Government until 1998 when governance was transferred to the ROC Finance Ministry. In 2001, the duty of issuing New Taiwan dollars was transferred to the Central Bank of China. | ||
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| Central Bank building, 28/11/1999 | ||