Time Period: 1800-1867

Timeline

  • 1813-1825
  • Issuance of Brazilian coinage of 80, 40, 20 Brazilian Réis to facilitade trade between Brazil and the São Timé trade post:
    - The coins for São Tomé had denominations written in digits to distinguish them from the Brazilian coins which used Roman numbers.


Time Period: 1868-1913

Currency: São Toméan Milreis


Timeline

  • 25.10.1859
  • Portuguese ordinance on the introduction of Portuguese coins for circulation at the same rate as in Portugal; effective immediately (?)
  • 01.01.1868
  • Start of operations of the local branch of the Portuguese National Overseas Bank at São Tomé:
    - Immediate ssuance of unmarked paper money from Luanda (Angola).
    - 02.01.1897: Issuance of paper money by the local subsidiary.

Valuation Regimes

  • 1868-1913
  • Nominally identical to the Portuguese Milreis. The São Toméan paper money was not fully convertible into Portuguese currency.


Time Period: 1914-1976

Currency: São Toméan Escudo


Timeline

  • 18.09.1913
  • Ordinance [No. 141] implementing the Portuguese currency reform of 1911 in the colonies (except India); effective 01.01.1914
  • 05.11.1914
  • Start of currency exchange:
    - 05.11.1914: Start of issuance of the new banknotes (coins followed in 1928)
    - ??.??.1929: Demonetization of the former currency.

Valuation Regimes

  • 1914-1976
  • Fixed rate against Portuguese Escudo

Rate Arrangements

  • 01.01.1914
  • Fixed
  • Portuguese Escudo at 1 : 1
  • ±0.0%


Time Period: 1976-2017

Currency: 1st São Toméan Dobra


Timeline

  • 03.05.1975
  • São Toméan ordinance [No. 56] (after independence) on the nationalization of the National Overseas Bank under the name of "National Bank of São Tomé and Príncipe"; effective upon constitution of the bank on 01.06.1976
    - 03.09.1976: Central bank law [No. 41]; effective 01.06.1976 (retro-active).
  • 15.07.1976
  • Law [No. 23] on the creation of a national currency; effective by ordinance [No. 50] of 08.12.1976
  • 20.07.1976
  • Start of currency exchange:
    - 20.07.1976: Start of issuance of overprinted banknotes of the National Overseas Bank
    - 27.07.1976: Demonetization of unmarked banknotes of the National Overseas Bank
    - 08.09.1977: Start of issuance of the regular banknotes and coins
    - ??.??.????: Demonetization of the overprinted banknotes.
  • 28.07.1992
  • Law [No. 8] on the split of the National Bank into the "Central Bank" and the "International Bank" (state-owned commercial bank); effective upon constitution of the central bank on 26.08.1992 (the International Bank opened on 03.03.1993)

Valuation Regimes

  • 1976-1977
  • Fixed rate against Portuguese Escudo
  • 1977-1987
  • Fixed rate against IMF Special Drawing Rights (SDR) unit
  • 1987-2010
  • Variable rate, highly inflationary 1987-1997
  • 2010-2017
  • Fixed rate against European Euro

Rate Arrangements

  • 15.07.1976
  • Fixed
  • Portuguese Escudo at 1 : 1
  • ±0.0%
  • 08.09.1977
  • Fixed
  • SDR at 1 : 45.25
  • +3.7%
  • 22.07.1987
  • Variable
  • initially: SDR at 1 : 100
  • -54.8%
  • 05.01.2010
  • Fixed
  • European Euro at 1 : 24'500
  • -


Time Period: 2018-

Currency: 2nd São Toméan Dobra


Timeline

  • 08.12.2017
  • Law [No. 17] on the currency reform; effective 01.01.2018:
    - 21.10.2016: Ordinance [No. 6] on the authorization of the Central Bank to carry out a currency redenomination; effective together with the currency law
    - 16.11.2016: Ordinance [No. 11] on the redenomination ratio; effective together with the currency law
    - 16.08.2017: Public announcement of the upcoming currency reform by the central bank.
  • 01.01.2018
  • Start of currency exchange:
    - 01.01.2018: Start of issuance of the new banknotes and coins
    - 30.06.2018: Demonetization of the former currency.

Valuation Regimes

  • 2018-
  • Fixed rate against European Euro

Rate Arrangements

  • 01.01.2018
  • Fixed
  • European Euro at 1 : 24.50
  • ±0.0%


End-year Forex Rates (Units per US Dollar)