Taiwan’s central bank will include TWD200 ($6.24) and TWD2,000 ($62.40) bills in its upcoming banknote redesign, despite the low circulation of these denominations, the bank reported on March 27, CNA reports.

While the TWD100 ($3.12), TWD500 ($15.60) and TWD1,000 ($31.20) notes dominate daily trade, the central bank told the Legislature that demand for the TWD200 ($6.24) and TWD2,000 ($62.40) versions persists among certain users. Keeping them in the mix is also framed as a cost-effective and environmentally friendly move. By including all five denominations in the refresh, the bank follows a global trend of comprehensive currency updates and hopes to encourage the public to use the full range of notes more proportionally.

The redesign programme was formally initiated in October, led by a multi-disciplinary advisory committee. Public participation was central to the early phase, with more than 190,000 citizens voting to select a visual concept. The committee ultimately chose "Beauty of Taiwan" as the overarching theme for the new series.

The decision to retain these rare notes marks a significant moment in the first total overhaul of Taiwan’s currency in 24 years, signaling the central bank's commitment to a full-spectrum modernisation of the national legal tender rather than just updating high-velocity bills.

The entire process, which includes drafting designs, obtaining Cabinet approval, and sourcing patented inks and specialist paper, is expected to take approximately two years. Automated cash machines and anti-counterfeiting systems across the island will be upgraded before the new money enters circulation, the central bank said on March 27.