Taiwan's Central Bank to offer banknote exchange ahead of Lunar New Year

Old and large denomination notes may be exchanged for new NT$100 notes at 454 locations

one hundred yuan

one hundred yuan (CNA photo)

TAIPEI (Taiwan News) – Starting on Feb. 8, people will be able to exchange their money for new NT$100 cash notes at 454 public stock banks and post offices, reported CNA.

With the coming of Lunar New Year, the demand for new notes increases as people prepare money to put in red envelopes. Therefore, the central bank will offer a cash exchange service to the public at 454 assigned banks and post offices.

Some of the assigned banks include Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, First Bank, Hua Nan Bank, Chang Hwa Commercial Bank, Taiwan Business Bank, and several branches of Chunghwa Post Office.

Director General of Department of Issuing, James Tsun Hua Shih (施遵驊) said the one hundred yuan note is usually the most popular over the New Year holidays, especially because of the red color of the note which symbolizes prosperity and joy in Taiwanese culture. Moreover, each person will be allowed to exchange large of old monetary notes equal for up to one hundred of the NT$100 bills (total NT$10,000).

In response to the public's request to withdraw new banknotes from ATM machines, Shih said the central bank could not guarantee every note from ATM machines would be new because new and old notes are automatically sorted together in the ATMs, according to Apple Daily.

Updated : 2021-01-21 17:20 GMT+08:00