São Tomé and Príncipe dobra facts for kids
Quick facts for kids São Tomé and Príncipe dobra |
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| ISO 4217 Code | STN | ||
| User(s) |  São Tomé and Príncipe |
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| Inflation | 5.0% | ||
| Source | July 2015 | ||
| Pegged with | euro = 24.50 STN | ||
| Subunit | |||
| 1⁄100 | cêntimo | ||
| Symbol | Db | ||
| Coins | 10, 20, and 50 cêntimos; 1 and 2 dobras | ||
| Banknotes | 5, 10, 20, 50, 100, 200 dobras | ||
The dobra is the official currency of São Tomé and Príncipe. This island nation is located off the western coast of Africa. The dobra is often shortened to Db and is divided into 100 smaller units called cêntimos.
The first version of the dobra, known as STD, was introduced in 1977. It took the place of the escudo at the same value. Over time, the value of money changed, leading to a big update on January 1, 2018. The dobra was then redenominated, meaning its value was adjusted. One new dobra became equal to 1,000 old dobras. This new currency was given the code STN.
São Tomé and Príncipe made an important agreement with Portugal in 2009. This deal connected the dobra to the euro, a major European currency. The exchange rate was set on January 1, 2010, at 1 euro for 24,500 old dobras. This means that today, 1 euro is equal to 24.5 new dobras.
The name "dobra" comes from the Portuguese word dobra. This word means "doubloon", which was a type of old gold coin.
Contents
Exploring the Dobra Currency
How the Dobra Got Its Name
The word "dobra" comes from Portuguese. It means "doubloon," which was a famous old gold coin. This name connects the currency to a rich history of money.
The First Dobra: STD Coins and Banknotes
The first series of dobra currency, known as STD, was used for many years. It included various coins and banknotes.
Coins of the First Dobra
In 1977, the first coins were released. These included values like 50 cêntimos, 1, 2, 5, 10, and 20 dobras. Most of these coins were made from a metal called cupro-nickel. The 50 cêntimos and 1 dobra coins were made of brass. These coins often showed pictures of local food, plants, and animals. Even though these older coins are not seen much today, they are still officially valid money.
Later, in 1997, a new set of coins with higher values was introduced. These included 100, 250, 500, 1000, and 2000 dobras. These newer coins were made of nickel-plated steel. They featured different wildlife themes. All circulating coins showed the country's coat of arms on one side. The other side had the phrase "Aumentemos a Produção" (meaning "Let's Increase Production") and the coin's value.
Banknotes of the First Dobra
The first banknotes for the dobra were issued on September 30, 1977. These notes came in values of 50, 100, 500, and 1000 dobras. The Banco Nacional de São Tomé e Príncipe was responsible for printing them.
Over time, as the value of money changed, larger denomination notes were needed. In 1996, notes for 5,000, 10,000, 20,000, and 50,000 dobras were introduced. The smaller value notes were replaced by coins. A new series of notes with improved security features was released in 2006. In December 2008, a 100,000 dobras note was added to meet the country's needs.
Most of these banknotes featured a portrait of Rei Amador, a historical figure. However, the 100,000 dobras note showed Francisco José Tenreiro.
The New Dobra: STN Coins and Banknotes
In 2018, São Tomé and Príncipe introduced a completely new series of currency. This was part of the redenomination process.
Coins of the New Dobra
New coins were released in 2018. These included values of 10, 20, and 50 cêntimos. There were also 1 and 2 dobras coins. These coins are used for everyday transactions.
Banknotes of the New Dobra
The new banknotes, issued in 2018, came in values of 5, 10, 20, 50, 100, and 200 dobras. The 5 and 10 dobra notes were initially printed on polymer, a type of plastic. All the new banknotes feature beautiful images of butterflies on the front. The back of the notes shows different local wildlife.
In 2020, the Central Bank updated some of these notes. A new version of the 200 dobras banknote was issued. Also, the 5 and 10 dobras notes went back to being printed on paper. This change happened because the polymer versions were not ideal for the tropical climate of São Tomé and Príncipe.
How the Dobra Connects to the Euro
In July 2009, São Tomé and Príncipe signed an important agreement with Portugal. Portugal is its former colonial mother country. This deal aimed to link the dobra to the euro. Portugal provided financial support of up to 25 million euros. The European Commission also supported this move.
São Tomé and Príncipe believed that connecting the dobra to the euro would bring "stability" to the country's economy. It was also expected to attract more foreign businesses to invest there. This agreement took effect in January 2010. It was similar to a deal Portugal had made with Cape Verde ten years earlier.
Why the Dobra Changed: Redenomination
On August 25, 2017, the Central Bank of São Tomé and Príncipe announced a major change. This was to celebrate the Central Bank's 25th anniversary. They decided to redenominate the dobra. This meant that 1 new dobra would be worth 1,000 of the old dobras.
Six new banknotes and five new coins were issued on January 1, 2018. The old and new currency circulated together for a while, until June 30, 2018. After that, people could exchange or deposit the old notes at banks until December 31, 2018. The Central Bank continued to accept them until December 31, 2019. This process helped the country update its currency system.
See also
- Economy of São Tomé and Príncipe
- Currencies related to the euro
