Taiwan ends currency tradition

The new notes have gained "national currency" status

The Taiwanese $1,000 note has been given a facelift and for the first time in 40 years will no longer feature the face of the late former President Chiang Kai-shek.

The notes have formally gained "national currency" status and come with improved anti-forgery measures.

New notes in denominations of $100, $200, $500 and $2,000 are scheduled to be introduced over the next two years - one every six months.

How it was: Former President Chiang Kai-shek once adorned all notes

The move follows the ending of the dollars' long held "quasi-national" status by Taiwan's central bank over the weekend.

The dollar's new status is purely symbolic, but comes as Taiwan and China make cautious moves towards reconciliation.

China has never formally recognised Taiwan as an independent state, preferring to view the island as a rebellious province.

The Taiwan dollar began to circulate in 1949 after the Chiang Kai-shek's Nationalist government fled to Taiwan from the mainland at the end of the civil war.

Taiwan's nationalist Kuomintang party lost its grip on power for the first time in 50 years following presidential polls held in March.

Existing banknotes, printed by the Bank of Taiwan under the authority of the central bank, will continue to circulate until the end of June 2007.