TAIPEI (Taiwan News) — The Central Bank on Friday announced that the redesign of the New Taiwan dollar will include the NT$200 (US$6.24) and NT$2,000 notes, citing public demand and environmental and cost benefits.

The bank released a written report detailing the redesign ahead of a Legislative Yuan Finance Committee meeting on Monday, per CNA. The project officially began on Oct. 23, 2025, with the formation of an interdisciplinary banknote redesign advisory committee.

After committee discussions, the overarching theme was set as “The Beauty of Taiwan.” Twelve candidate designs for the denominations were shortlisted, and a public vote attracted more than 190,000 participants.

The Central Bank said the public vote will be considered alongside expert assessments and broader factors as a key reference for the new banknote designs.

Currently, five NT$ denominations are in circulation, including NT$100, NT$200, NT$500, NT$1,000, and NT$2,000. Observers have noted that 2-digit notes are used less frequently, raising questions about whether they will continue to be issued.

The report noted that, in keeping with international practice, the five-denomination structure is appropriate and that most countries redesign all denominations simultaneously. Considering public demand and environmental and cost benefits, the bank decided to include the 2-digit notes and promote more balanced usage across all denominations.

Regarding the redesign timeline, the Central Bank said the process involves graphic design, licensing approvals, legislative review, trial printing, plate-making, and international procurement of banknote paper and patented inks. The redesign process is expected to take about two years.

In addition, the upgrade of anti-counterfeiting features will affect existing production processes and equipment, and other challenges may arise during mass production. Nationwide cash automation equipment must also be recalibrated or updated before issuance, a process expected to take about six months.