Here is the complete financial historical report of São Tomé and Príncipe, in International English, as requested:

Financial Historical Report of São Tomé and Príncipe

Basic Data

• Country ISO Code: ST / STP

• Official Language: Portuguese

• Language ISO Code: pt

• Current Official Currency: Dobra (New Dobra)

• Currency ISO Code: STN

• Issuing Authority: Central Bank of São Tomé and Príncipe

• Subdivision: 1 dobra = 100 cents

Currency History

1. Early Coins (19th Century)

• The earliest primitive coins for the islands were minted in Brazil in 1813 and 1815, marking the beginning of local numismatics.

• During the colonial period, Portuguese coins, especially the Portuguese escudo, circulated.

2. Santomean Escudo (until 1977)

• Until independence, São Tomé and Príncipe used the Portuguese escudo, locally adapted as the Santomean escudo.

• In 1975, shortly before independence, a symbolic nationalization of the currency occurred by overprinting notes of the Banco Nacional Ultramarino.

• The Santomean escudo remained official until 1977, despite currency shortages.

3. First Dobra (STD) – Introduced in 1977

• The dobra was officially created in 1977, replacing the Santomean escudo at par (1:1).

• The name “dobra” refers to an old local coin minted in the 18th century.

• Initial coins included 50 centimos, 1, 2, 5, 10, and 20 dobras, made of bronze and cupronickel, featuring local food, flora, and fauna.

• In 1990, 50-dobra coins in nickel-plated steel were introduced, depicting wildlife themes.

• In 1997, a new series of larger denominations (100, 250, 500, 1000, and 2000 dobras) was issued with varied shapes and local fauna motifs.

• Banknotes were issued in denominations such as 5, 10, 20, 50, 100, and 200 dobras.

4. Dobra Redenomination (2018) – New Dobra (STN)

• In 2018, due to chronic inflation, the dobra was redenominated at 1000 old dobras = 1 new dobra.

• The new ISO code became STN.

• Since 2010, the dobra has been pegged to the euro at a fixed rate of 1 EUR = 24.5 STN, under an agreement with Portugal.

• The Central Bank issues new coins and banknotes to facilitate transactions and strengthen the economy.

Coins and Banknotes Details

Economic and Historical Context

• The creation of the dobra marked monetary sovereignty after independence in 1975.

• Chronic inflation led to the 2018 redenomination to simplify the monetary system.

• The peg to the euro strengthened exchange rate stability and facilitated international trade.

• The country’s economy is based on agriculture, fishing, and tourism, reflected in currency themes.

• The Central Bank of São Tomé and Príncipe is responsible for currency issuance, regulation, and control.

Curiosities

• The dobra’s name has historical roots, referring to an 18th-century coin.

• Commemorative coins and special series have been issued, highlighting local fauna and flora.

• Older coins remain legal tender but are rarely seen in circulation due to inflation.

Current Status

• The official currency in circulation is the new dobra (STN), with a 1000:1 conversion from the old dobra (STD).

• The new dobra is pegged to the euro at a fixed rate, providing exchange rate stability.

• Modern coins and banknotes circulate widely, facilitating economic transactions.

This report provides a comprehensive overview of São Tomé and Príncipe’s monetary evolution, highlighting key historical milestones, currency features, and the current economic context.