10 Yuan orange

The Bank of Taiwan operated as the de facto central bank of the Republic of China government on Taiwan after 1949, issuing currency independently of the mainland's banking structure. This 1960 note belongs to a series that stabilized following the disastrous hyperinflation of the late 1940s — the 1949 currency reform had introduced the New Taiwan Dollar at a rate of 40,000 old Taiwan Dollars to one, effectively wiping out earlier paper holdings entirely.

The Central Engraving and Printing Plant relocated from the mainland to Taipei in 1949 and has produced ROC government securities and currency continuously since. Intaglio printing is typical for this plant's output of the period.