The currency used locally is the New Taiwan Dollar and to get the best exchange rates, it is best to stick to US dollars or sterling traveller's cheques rather than cash and stick to banks where you get around 10% more than changing cash in the change bureaus. Credit cards are widely accepted in larger cities such as Taipei, and there are ATMs throughout the country and if need be, you can usually get a cash advance in a bank - at a small charge.
Typically, prices in Taiwan are quite high, equivalent to France or the UK, although with so much produced in the country, there are many bargains to be had - particularly on electronics.
Tipping is not common practice, as a 10% service charge is added to the bill in most restaurants, although hotel porters will expect a tip of about $1 for every bag they lug around for you.
A 10% discount is worth asking for in shops and gentle bargaining over prices is the norm in almost all markets.
