Government denies online rumor of local currency redesign - Focus Taiwan

Government denies online rumor of local currency redesign

Taipei, Nov. 29 (CNA) Cabinet spokeswoman Kolas Yotaka (谷辣斯.尤達卡) on Thursday dismissed an online rumor that the government is planning to spend NT$50 billion (US$1.62 billion) to redesign Taiwan's paper currency.

"That is complete misinformation," Kolas said.

She said the New Taiwan dollar (NTD) bills have an excellent counterfeit-proof design and there are no plans for a new design.

Furthermore, the government has not allocated any funds for such an undertaking, she said.

Also on Thursday, the central bank issued a statement, saying that it has no plan to issue new versions of New Taiwan dollar banknotes because it is one of the world's least counterfeited currencies.

The rumor appeared on the popular social networking app Line, saying "opposition, opposition, opposition to redesign of the New Taiwan dollar bills that will cost taxpayers NT$50 billion."

(By Ku Chuan, Chiu Po-sheng and Evelyn Kao)

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