Code STD Symbol Db | 1/100 cêntimo User(s) São Tomé and Príncipe | |
Banknotes 5000, 10,000, 20,000, 50,000, 100,000 dobras Coins 100, 250, 500, 1000, 2000 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.
Contents
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 on 1 January 2010. As of now, 1 EUR = 24,590.15 STD
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.
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. 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.