Original: The New Taiwan dollar (currency code TWD and common abbreviation NT$), or simply Taiwan dollar, is the official currency of the Taiwan Area of the Republic of China (ROC) since 1949, when it replaced the Old Taiwan dollar.
Simplified: The New Taiwan dollar (currency code TWD and common abbreviation NT$), or simply Taiwan dollar, is the official currency of Taiwan. It was used since 1949, when it replaced the Old Taiwan dollar.