50 Yuan white background

The Bank of Taiwan functioned as Taiwan's de facto central bank from 1945 onward, issuing its own New Taiwan Dollar series independently of the mainland currency collapse. By 1961, the NT dollar had already survived two significant redenominations and the economic chaos of postwar reconstruction — this series represents a period of relative monetary stabilization under the early export-driven growth model pushed by the American-backed government.

The Central Engraving and Printing Plant relocated from Nanjing to Taiwan in 1949 alongside the Nationalist government, and continued operating under its original institutional identity. The "white background" designation in collector nomenclature distinguishes this issue from earlier, more heavily engraved printings of the same denomination.