Initially, the Taiwan Dollar was pegged to the USD, but in 1978 it switched to a floating exchange rate system, with the Taiwan central bank resorting to interventions in the market on occasions in order to stabilise the exchange rate and domestic prices while promoting economic growth and the export industry.
How do you write dollars in Taiwan?
The New Taiwan dollar is the official currency of Taiwan (Republic of China). The currency code is TWD and is commonly abbreviated as NT$ or simply $ in front of the amount, or a Chinese character 元 (pronounced yuán) following the amount.