TWD to UYU

TWD - New Taiwan Dollar (NT$)

New Taiwan Dollar

The New Taiwan Dollar (or the Taiwan Dollar) has been the official currency of the Taiwan Area of the Republic of China since 1949, when it replaced the Old Taiwan Dollar. It was initially issued by the Bank of Taiwan; since 2000 it has been issued by the Central Bank of the Republic of China (ROC).

The New Taiwan Dollar is the currency in Taiwan (TW, TWN). The New Taiwan Dollar is also known as the Taiwanese Dollar. The symbol for TWD can be written NT$, NTD, and NT. The New Taiwan Dollar is divided into 100 cents. The exchange rate for the New Taiwan Dollar was last updated on May 24, 2019 from Yahoo Finance. The TWD conversion factor has 5 significant digits.

Economy

• Taiwan has a developed capitalist economy that ranks as the 19th largest in the world in GDP and 23rd in nominal terms. The Republic of China governs Taiwan with gradually decreasing guidance in the areas of investment and foreign trade.
• Most large government-owned banks and industrial firms have been privatized.
• Real growth in GDP has averaged about 8% during the past three decades. Exports have grown even faster and, since World War II, have provided the primary impetus for industrialization.
• Taiwanese investors and businesses have become major investors in mainland China, Vietnam, Thailand, Indonesia, and the Philippines.

History

• The New Taiwan Dollar was first issued by the Bank of Taiwan on June 15, 1949 to replace the Old Taiwan Dollar at the rate of 40,000 old Dollars = 1 new Dollar.
• The main aim of the New Taiwan Dollar was to end the hyperinflation that had plagued Taiwan and mainland China due to the Chinese civil war fought in mainland China.
• Taiwan has transformed itself from a recipient of U.S. aid in the 1950s and early 1960s to an aid donor and major foreign investor. Private Taiwanese investment in mainland China is estimated to be in excess of 150 billion USD, and official sources cite Taiwan as having invested a comparable amount in Southeast Asia.
• In July, 2000 the New Taiwan Dollar became the official currency of the ROC and is no longer secondary to the silver Yuan. At the same time, the Central Bank of China (now known as the Central Bank of the Republic of China) began issuing New Taiwan Dollar banknotes, and the old notes issued by the Bank of Taiwan were taken out of circulation.

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UYU - Uruguayan Peso ($U)

Uruguayan Peso

The Uruguayan Peso is the official currency of Uruguay. The name has been in use since the European settlement. The present currency was adopted in 1993 and is subdivided into 100 centésimos.

The Uruguayan peso is the currency in Uruguay (UY, URY). The symbol for UYU can be written $U. The Uruguayan peso is divided into 100 centesimos. The exchange rate for the Uruguayan peso was last updated on May 22, 2019 from The International Monetary Fund. The UYU conversion factor has 6 significant digits.

Economy

• The economy of Uruguay is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending.
• In 1603, cattle were introduced in Uruguay before its independence by Hernando Arias de Saveedra, the Spanish Governor of Buenos Aires. In 2006, beef accounted for about 37% of Uruguayan exports.
• Wool is a traditional product exported mainly to America, followed by the UK and India.
• Conaprole, the National Cooperative of Milk Producers, was the main exporter of dairy products in Latin America in 2006.
• Fine varieties of rice are produced in the eastern lowlands, close to Merin lake on the Uruguay-Brazil border.

History

• In 1828, Uruguay's currency was based on the silver Peso of eight reales, commonly known as the Patacon, and the gold onza de oro, valued at 16 pesos silver. A large quantity of debased copper coin also circulated.
• In October, 1828, lacking the means to implement a national coinage, Gen. Jose Rondeau’s provisional government permitted foreign silver and gold coin to circulate freely at their intrinsic value, but restricted and later (1829) prohibited the importing of copper coins and the circulation of Buenos Aires banknotes.
• A key characteristic of the currency is its instability, which increased in the spring of 2002.
• Uruguayans have become accustomed to the constant devaluation and instability of their currency, and have developed a fitting lingo – calling periods of Dollar appreciation atraso cambiario ("the exchange rate is running late").

More information about UYU - Uruguayan Peso ($U)