- São Tomé and Príncipe dobra
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São Tomé and Príncipe dobra dobra são-tomense (Portuguese) 50,000 dobras ISO 4217 code STD User(s) São Tomé and Príncipe
Inflation 27% Source The World Factbook, 2008 est. Subunit 1/100 cêntimo Symbol Db Coins 100, 250, 500, 1000, 2000 dobras Banknotes 5000, 10,000, 20,000, 50,000, 100,000 dobras Central bank Banco Central de São Tomé e Príncipe Website www.bcstp.st 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.
Contents
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. In 1997, larger denominations were introduced of 100, 250, 500, 1000 and 2000 dobras. Of these, the 100 and 250 dobras are round, the remaining are equilaterally curved heptagonal.
All circulating coins bear the country's coat of arms on the obverse, with the text "Aumentemos a Produção" on the reverse.
Banknotes
In 1977, notes were introduced for 50, 100, 500 and 1000 dobras by the Banco Nacional de São Tomé e Príncipe. In 1996, 5000, 10,000, 20,000 and 50,000 dobras notes were introduced, with the lower denomination notes being replaced by coins in 1997. A new issue was issued in 2006 with upgraded security features.
In December 2008, the 100,000 dobras note was introduced.
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 [2] 13,738.50 [3] January 1, 2008 20,499.73 14,050.00 March 4, 2009 22,062.04 17,500.00 July 31, 2010 18,720.00 [4] 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 OzForex: AUD CAD CHF EUR GBP HKD JPY USD From XE.com: AUD CAD CHF EUR GBP HKD JPY USD From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD On March 4, 2009, the São Tomé and Príncipe dobra became the least valued currency unit for the first time in history.
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.[5][6] Portugal will provide as much as 25 million euro in a move endorsed by the European Commission.[6] São Tomé and Príncipe claimed that linking the dobra to the euro would "guarantee stability" in the country.[5] It is also expected to attract foreign investment.[5][6]
Officials spent one year negotiating the accord, which took effect in January 2010.[5][6] The agreement follows a similar one which Portugal signed ten years previously with Cape Verde.[5]
See also
References
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. 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/
- ^ 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
- ^ a b c d e "Portugal signs Sao Tome euro deal". BBC News. 2009-07-29. http://news.bbc.co.uk/2/hi/africa/8174580.stm. Retrieved 2009-07-30.
- ^ a b c d "Portugal and Sao Tome to sign financial cooperation agreement". Macauhub. 2009-07-28. http://www.macauhub.com.mo/en/news.php?ID=7825. Retrieved 2009-07-30.
External links
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Categories:- Currencies of Africa
- Circulating currencies
- Economy of São Tomé and Príncipe
- 1977 establishments
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