5 Yuan

The Bank of Taiwan resumed operations under Nationalist Chinese administration in May 1946, following Japan's defeat and the handover of Taiwan. This note belongs to the first paper currency series issued under that reorganized authority — a transitional issue printed domestically at a time when the island's economy was still being reintegrated into the Republic of China monetary system.

By 1949, catastrophic hyperinflation on the mainland had driven enormous quantities of capital and refugees into Taiwan, placing the island's currency under severe pressure. A new Taiwan dollar replaced these yuan-denominated notes at a rate of 40,000 old yuan to 1 new dollar.