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Mia Albano
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Visited Sao Tome and Principe in 2020

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Africa > Sao Tome and Principe > Useful Info
Submitted on Jan 10, 2021 Useful Info

Money Information in Sao Tome and Principe

The Dobra (STD) is the official currency in Sao Tome and Principe and is represented by the symbol Db.

The Dobra is pegged to the Euro at a stable rate of 1 Euro= 24,500 Dobras while the dollar rates at 1 USD= 20.0994 Dobras. The Euro and the dollar are accepted in many touristic destinations in Sao Tome and Principe as trading currencies.

The Dobra is only used in Sao Tome and Principe. I recommend you entirely spend your Dobras in Sao Tome and Principe because exchanging this currency in other countries is very difficult. Another viable option is to buy Euros.

Denominations

  • They are in bills and coins.
  • Bills are in denominations of 5000, 10000, 20000, 50000 and 100000 Dobras.
  • Coins are in denominations of 100, 250, 500, 1000 and 2000 Dobras.

Withdrawing Money in Sao Tome and Principe

  • Please note that withdrawing money is only available at the counters in banks and can only be done using a credit card.

Daily Budget in Sao Tome and Principe

  • For low end budgets, expect to spend less than 75 Euros.
  • For mid-range budgets, you'll probably spend about 75 to 150 Euros.
  • For high end budgets you'll spend more than 150 Euros.

Weekly Budget in Sao Tome and Principe

  • The best option is to bring 50 Euro bills and exchange them for a week's worth of Dobras using the street brokers.

Bargaining in Sao Tome and Principe

  • Bargaining is a norm in Sao Tome and Principe. You can bargain market prices, bus fares, taxi fares and even money exchange rates.

Where to Exchange Money in Sao Tome and Principe

  • I recommend exchanging currency at the counter of most banks. Bring your cash in Euros for this is the easiest and most preferred option. The Dollar is less common.
  • There are no International ATMs in Sao Tome and Principe! I recommend opting for cashbacks which are only offered in very few high end restaurants.

How to Exchange Money in Sao Tome and Principe

1. There are informal street brokers who'll probably approach you, strike a deal, punch the calculator to calculate the rate and hand you your money. Don't be alarmed! It is entirely legal. Make your own rounds to determine the best deals before concluding with your currency exchange.

2. Use banks. This is safer and more convenient. Note that this is the only option if you wish to exchange currency in Principe.

Tipping in Sao Tome and Principe

  • It is optional. Tip at your own will.

How to Send Money to Sao Tome and Principe

1. Countercheck Your Exchange Rates Option and Pick the Best One For You

  • Although exchange rates are uncertain, I recommend you choose one that is at your advantage. The aim is to maximize on the amount of Dobras you'll receive.

2. Compare Then Choose the Best Provider

  • Some of them include Postbank, Western Union, XendPay, CurrencyFair and TransferWise.

3. Sign up and Make your Transaction

  • Sign up on your provider's website, upload a copy of your ID or Passport and complete your transaction.