01/01/2020: New Currency Symbol
A new currency symbol for the dobra, resembling the letters 'STD' with horizontal lines through them, was introduced for official use.
24/05/2018: Dobra Pegged to Euro
The dobra's exchange rate was pegged to the euro, aiming to stabilize the currency and boost economic cooperation with the European Union.
01/01/2016: Introduction of Polymer Banknotes
São Tomé and Príncipe started issuing polymer banknotes as a means to enhance durability and reduce counterfeiting of the dobra.
29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket
The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.
01/01/2010: Currency Redenomination
The third dobra was introduced, with 1 new dobra equalling 1,000 old dobras, aiming to simplify transactions and boost confidence in the currency.
18/06/2009: Resumption of Renminbi Appreciation
China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.
20/07/2005: Introduction of Managed Float
China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.
01/01/1997: Introduction of the New Dobra
A new currency, the 'second dobra,' was introduced at a rate of 1,000 to 1 to combat hyperinflation and stabilize the economy.
31/12/1993: Renminbi Pegged to US Dollar
China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.
31/12/1992: Introduction of Dual Currency System
China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.
24/12/1979: First Currency Devaluation
The first devaluation of the dobra occurred, reducing its value by 53% as a result of economic instability and inflation.
30/06/1977: Introduction of the Dobra
The São Tomé and Príncipe dobra was introduced as the official currency of the country after gaining independence from Portugal.
14/08/1971: End of the Bretton Woods System
The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.
14/12/1948: Formation of the People's Bank of China
The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.