Taiwan allows exchange of rival China’s currency on small islands

Posted by left_blank | Sep 27, 2005

Taiwan announced on Wednesday it would for the first time allow the exchange of Chinese currency on its territory, but only on two small islands close to the mainland’s coast.

China’s yuan could be exchanged for New Taiwan dollars in banks on Kinmen and Matsu beginning from Monday Oct. 3, Premier Frank Hsieh said.

Only residents of the islands, business people, and Chinese visitors would be allowed to exchange money in local banks that applied for a special license, he said.

Categories : Taiwan