The dobra () is the
currency
A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific envi ...
of
São Tomé and Príncipe
São Tomé and Príncipe, officially the Democratic Republic of São Tomé and Príncipe, is an island country in the Gulf of Guinea, off the western equatorial coast of Central Africa. It consists of two archipelagos around the two main isla ...
. It is abbreviated Db and is divided into 100
cêntimos. The first dobra (STD) was introduced in 1977, replacing the
escudo at par. Due to past inflation, on 1 January 2018 the dobra was
redenominated at a rate of 1000 to 1, and given the new ISO 4217 currency code STN.
São Tomé and Príncipe signed a deal with
Portugal
Portugal, officially the Portuguese Republic, is a country on the Iberian Peninsula in Southwestern Europe. Featuring Cabo da Roca, the westernmost point in continental Europe, Portugal borders Spain to its north and east, with which it share ...
in 2009, linking the dobra with the
euro
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...
. The exchange rate was fixed at 1 EUR = STD on 1 January 2010, which means that the new dobra is pegged to the euro at €1 = STN / nDb.
The name derives from Portuguese ''dobra'', meaning "
doubloon
The doubloon (from Spanish language, Spanish ''doblón'', or "double", i.e. ''double escudo'') was a two-''Spanish escudo, escudo'' gold coin worth approximately four Spanish dollars or 32 ''Spanish real, reales'', and weighing 6.766 grams (0.218 ...
."
Coins
First dobra
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.
Second dobra
With the redenomination of the dobra in 2018, coins were introduced in denominations of 10, 20, and 50 cêntimos and one and two dobras.
Banknotes
First dobra
On 30 September 1977, notes were introduced for 50, 100, 500 and 1000 dobras by the
Banco Nacional de São Tomé e Príncipe
Banco may refer to:
Places
* Banc (Barcelona Metro), also called Banco, a closed metro stop on the Barcelona metro
* Banco, Virginia, an unincorporated community
* Banco, West Virginia, an unincorporated community
* Banco National Park, a nationa ...
. 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.
Second dobra
Banknotes of 5, 10, 20, 50, 100, and 200 dobras were issued in 2018 with the redenomination of the dobra. The five and 10 dobra notes are printed in
polymer
A polymer () is a chemical substance, substance or material that consists of very large molecules, or macromolecules, that are constituted by many repeat unit, repeating subunits derived from one or more species of monomers. Due to their br ...
, and all the banknotes feature various species of butterfly on the obverse with local wildlife depicted on the reverses.
In 2020, the Central Bank of São Tomé and Príncipe issued a new version of the 200 dobras banknote, to replace the previous version caused by the poor quality of the paper used to print the note, and 5 and 10 dobras banknotes, reverting to paper, as the polymer versions of the two denominations were unsuitable due to the tropical environment of São Tomé and Príncipe.
Historical exchange rates (STD)
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.
Portugal will provide as much as 25 million euro in a move endorsed by the
European Commission
The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...
.
São Tomé and Príncipe claimed that linking the dobra to the euro would "guarantee stability" in the country.
It is also expected to attract foreign investment.
Officials spent one year negotiating the accord, which took effect in January 2010.
The agreement follows a similar one which Portugal signed ten years previously with
Cape Verde
Cape Verde or Cabo Verde, officially the Republic of Cabo Verde, is an island country and archipelagic state of West Africa in the central Atlantic Ocean, consisting of ten volcanic islands with a combined land area of about . These islands ...
.
Redenomination of the dobra
On 25 August 2017, the
Central Bank of São Tomé and Príncipe (''Banco Central de São Tomé e Príncipe'') announced a redenomination of the dobra, in commemoration of the Central Bank's 25th anniversary, with 1 new dobra equal to 1,000 of the previous dobras. Six banknotes (in denominations of 5, 10, 20, 50, 100 and 200 new dobras, with the two lower denominations printed in
polymer
A polymer () is a chemical substance, substance or material that consists of very large molecules, or macromolecules, that are constituted by many repeat unit, repeating subunits derived from one or more species of monomers. Due to their br ...
) and five coins (in denominations of 10, 20 and 50 cêntimos and 1 and 2 new dobras) were issued on January 1, 2018. The old and new series of notes circulated concurrently until 30 June 2018, after which they were exchangeable or depositable in commercial banks until 31 December 2018 and at the Central Bank until 31 December 2019.
See also
*
Economy of São Tomé and Príncipe
*
Currencies related to the euro
References
Further reading
*
*
{{DEFAULTSORT:Sao Tome And Principe Dobra
Currencies of São Tomé and Príncipe
1977 establishments in São Tomé and Príncipe
Currencies of Africa
Circulating currencies