São Tomé and Príncipe dobra

São Tomé and Príncipe dobra
dobra são-tomense (Portuguese)

50,000 dobras
ISO 4217
Code STD
Denominations
Subunit
 1/100 cêntimo
Symbol Db
Banknotes 5000, 10,000, 20,000, 50,000, 100,000 dobras
Coins 100, 250, 500, 1000, 2000 dobras
Demographics
User(s)  São Tomé and Príncipe
Issuance
Central bank Banco Central de São Tomé e Príncipe
 Website www.bcstp.st
Valuation
Inflation 5.0%
 Source July 2015
Pegged with euro = 24,500 STD

The dobra is the currency of São Tomé and Príncipe. It is abbreviated Db and is divided into 100 cêntimos, although inflation has rendered the cêntimo obsolete. The dobra was introduced in 1977, replacing the escudo at par.

São Tomé and Príncipe signed a deal with Portugal in 2009, linking the dobra with the euro. The exchange rate was fixed at 1 EUR = 24500 STD [1] on 1 January 2010.

Coins

In 1977, coins were introduced for 50 cêntimos, 1, 2, 5, 10 and 20 dobras. Except for the brass 50 cêntimos and 1 dobra, these coins were struck in cupro-nickel, as was the 50 dobras introduced in 1990. These coins depicted a combination of food produce and local flora and fauna. These coins, although seldom seen in circulation today due to chronic inflation have never been demonetized and can still be used as tender.

In 1997, a new coin series with larger denominations was introduced consisting of 100, 250, 500, 1000 and 2000 dobras. Of these, the 100 and 250 dobras are round, the larger of the three are equilaterally curved heptagonal. These coins were all struck in nickel-plated steel and depict wildlife related themes.

All circulating coins bear the country's coat of arms on the obverse, with the text "Aumentemos a Produção" and the valuation on the reverse.

Banknotes

On 30 September 1977, notes were introduced for 50, 100, 500 and 1000 dobras by the Banco Nacional de São Tomé e Príncipe.[2] In 1996, 5000, 10,000, 20,000 and 50,000 dobras notes were introduced, with the lowest denomination notes from the previous series being replaced by coins in 1997. A new issue was released in 2006 with upgraded security features.

In December 2008, the 100,000 dobras note was introduced as continuous inflation deemed the new denomination necessary. The note has been very well received and accepted by the general public.

All notes bear the portrait of Rei Amador on the obverse, however, on the 100,000 dobras note is the printed portrait of Francisco José Tenreiro.

Historical exchange rates

Date Euro United States Dollar
1995 Not yet in circulation 1,420.3
1996 Not yet in circulation 2,203.2
1997 Not yet in circulation 4,552.5
1998 Not yet in circulation 7,104.05
October 1999 - 7,200.0
August 2004 12,002.84 8,794
March 2005 11,663 9,086
October 25, 2005 (Estimate) 9,275.93 7,665.00
October 20, 2007 19,639.90 [3] 13,738.50 [4]
January 1, 2008 20,499.73 14,050.00
March 4, 2009 22,062.04 17,500.00
July 31, 2010 24 500 18,720.00 [5]
September 1, 2012 24 500 19,917.00[6]
Current STD exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From XE: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD

2009 deal with Portugal

In July 2009, the government of São Tomé and Príncipe signed a loan deal with Portugal, its one-time colonial mother country. The agreement was intended to tie the dobra to the euro.[7][8] Portugal will provide as much as 25 million euro in a move endorsed by the European Commission.[8] São Tomé and Príncipe claimed that linking the dobra to the euro would "guarantee stability" in the country.[7] It is also expected to attract foreign investment.[7][8]

Officials spent one year negotiating the accord, which took effect in January 2010.[7][8] The agreement follows a similar one which Portugal signed ten years previously with Cape Verde.[7]

See also

References

  1. ↑ http://www.telanon.info/economia/2010/01/04/2437/1-euro-equivale-a-24500-dobras/
  2. ↑ Linzmayer, Owen (2012). "Sao Tome and Principe". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  3. ↑ 1.00 EUR = 21,497.42 STD Accessed 2007-10-20
  4. ↑ 1.00 USD = 15,270.00 STD Accessed 2007-10-20
  5. ↑ 1.00 USD = 18,720.00 STD Accessed 2010-07-31
  6. ↑ http://www.xe.com/ucc/convert/?Amount=1&From=USD&To=STD 1.00 USD = 19,917.00 STD]
  7. 1 2 3 4 5 "Portugal signs Sao Tome euro deal". BBC News. 2009-07-29. Retrieved 2009-07-30.
  8. 1 2 3 4 "Portugal and Sao Tome to sign financial cooperation agreement". Macauhub. 2009-07-28. Retrieved 2009-07-30.
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