São Tomé and Príncipe dobra
| São Tomé and Príncipe dobra | |
|---|---|
| dobra são-tomense (Portuguese) | |
|
50,000 dobras | |
| ISO 4217 code | STD |
| Central bank | Banco Central de São Tomé e Príncipe |
| Website | www.bcstp.st |
| User(s) |
 São Tomé and Príncipe |
| Inflation | 12% |
| Source | The World Factbook, 2011 est. |
| Pegged with | euro = 24,500 STD |
| Subunit | |
| 1/100 | cêntimo |
| Symbol | Db |
| Coins | 100, 250, 500, 1000, 2000 dobras |
| Banknotes | 5000, 10,000, 20,000, 50,000, 100,000 dobras |
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 |
| From Currency.Wiki: | 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
- Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
- ↑ http://www.telanon.info/economia/2010/01/04/2437/1-euro-equivale-a-24500-dobras/
- ↑ Linzmayer, Owen (2012). "Sao Tome and Principe". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
- ↑ 1.00 EUR = 21,497.42 STD Accessed 2007-10-20
- ↑ 1.00 USD = 15,270.00 STD Accessed 2007-10-20
- ↑ 1.00 USD = 18,720.00 STD Accessed 2010-07-31
- ↑ http://www.xe.com/ucc/convert/?Amount=1&From=USD&To=STD 1.00 USD = 19,917.00 STD]
- ↑ 7.0 7.1 7.2 7.3 7.4 "Portugal signs Sao Tome euro deal". BBC News. 2009-07-29. Retrieved 2009-07-30.
- ↑ 8.0 8.1 8.2 8.3 "Portugal and Sao Tome to sign financial cooperation agreement". Macauhub. 2009-07-28. Retrieved 2009-07-30.
External links
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Look up dobra in Wiktionary, the free dictionary. |
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