The official currency of Taiwan is the New Taiwan Dollar (TWD), which is also sometimes abbreviated as NT$. The New Taiwan Dollar is divided into smaller units called cents, with 100 cents equaling 1 TWD. The most commonly used TWD banknotes and coins in circulation are:
Banknotes:
- NT$100
- NT$500
- NT$1000
- NT$2000
Coins:
- NT$1
- NT$5
- NT$10
- NT$50
Here is a reference table of approximate exchange rates (for up-to-date exchange rates, please check xe.com before you travel):
| 1 unit of currency | TWD |
| AU$1 | 20.67 |
| NZ$1 | 19.23 |
| US$1 | 31.54 |
Correct as of December 2023
We recommend that you have access to more than one source of money – bringing a combination of cash and a credit/debit card will give the most security and flexibility while travelling.
Exchanging Money, ATMs and Credit Cards
The use and acceptance of credit cards in Taiwan is widespread, especially in urban areas, and many outlets accept major credit cards. However, smaller market stalls may not accept credit cards, so it's always a good idea to carry some cash with you.
ATMs are readily available, but some may carry a surcharge, so it's important to check with your credit card company beforehand. Not all ATMs accept all kinds of cards, but the international Plus and Cirrus networks are widely accepted in 7Eleven stores in Taiwan. When exchanging money, you can do so from a bank or most hotels for a small fee, and US dollars are widely accepted for exchange. It's also a good idea to inform your credit card company/bank that you intend to be in Taiwan prior to your departure to avoid any issues with your card being blocked or restricted.
Spending money
Please ensure you have sufficient funds to pay for personal expenses such as drinks and snacks not included in the tour price. There are also plenty of opportunities to pick up some lovely souvenirs, so you might like to budget for this. On a two-week Classic Tour, we would recommend approximately AU$1,000 per person spending money, although this depends greatly on your individual needs.
The cost of food and drinks in Taiwan can vary depending on where you are and what you are looking for. Here are some rough estimates of the cost of common food and drink items in Taiwan:
- Street food snacks: NT$30-60 / AU$1.36-2.73
- A bowl of beef noodle soup: NT$100-150 / AU$4.54-6.81
- A plate of fried rice or noodles: NT$80-120 / AU$3.63-5.45
- A basic meal at a local restaurant: NT$150-250 / AU$6.81-11.36 per person
- A cup of coffee at a café: NT$80-150 / AU$3.63-6.81
- A bottle of water: NT$20-30 / AU$0.91-1.36
- A can of soft drink: NT$25-40 / AU$1.14-1.81
- A local beer: NT$50-80 / U$2.27-3.63
It's important to note that prices can vary depending on the location and type of establishment. In general, eating at a local restaurant or street vendor will be more affordable than dining at a higher-end restaurant or café.
Plan Ahead
Be prepared with enough cash in hand. Once you have started your tour, you will quickly get a sense of how often or how much you need to exchange/withdraw money. Try not to leave this to the last minute: exchange desks can close, ATMs can run out of cash and your group could be scheduled to leave your hotel at 7am the next morning! Outside of major cities banking also becomes less reliable.