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5 Yuan
| Issuer | Bank of Taiwan |
|---|---|
| Year | 1949 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 行銀灣台 伍 圓 印年八十三國民華中 厰北台厰製印央中 (Translation: Taiwan Bank Five Yuan Printed in the thirty-eighth year of the Chinese Republic Central Engraving and Printing, Taipei) |
| Reverse description | Upper portion carries a vignette of the Bank of Taiwan building rendered in fine line engraving. Below, a cartographic outline of Taiwan island frames the large numeral '5' at centre. The date '1949' appears at the foot of the note within a decorative guilloche border running the full width. |
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| Comments |
The Bank of Taiwan's 1949 issues were emergency instruments born directly from the catastrophic hyperinflation that had destroyed confidence in the mainland's currency. When the Nationalist government retreated to Taiwan, the New Taiwan Dollar was introduced in June 1949 at a rate of 40,000 old Taiwan Yen to one new dollar — a ratio that tells you everything about the monetary collapse preceding it.
Printed domestically by the Central Engraving and Printing Factory in Taipei rather than sourced from established overseas security printers, the series reflects the Republic of China's sudden need for monetary self-sufficiency under siege conditions. The pick reference P#1952 follows the Krause numbering for this inaugural New Taiwan Dollar series.