Old NT$500, NT$1,000 bills to cease circulation August 1

The spokesman reminded people to exchange old NT$500 and old NT$1,000 banknotes for new ones at financial institutes before July 31. After that date, the Bank of Taiwan will be the only financial institute where people will be able to exchange old notes.

Most NT$500 and NT$1,000 bills that people have now are of the new variety, the spokesman said, adding that the new bills were printed with dark brown as the dominant color, while one thousand-dollar notes remained blue, albeit with additional counterfeit detection measures.

The spokesman said there is a holographic foil membrane on right side of the new note’s front side, while the original color-changing security thread has been replaced with a wider security holographic thread on the back, right of the note.

Additionally, the Arabic numerals on the back of the new notes are printed with light changing oil-based ink that changes from gold to green, the spokesman added.

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