STD to ZMK

STD - São Tomé & Príncipe Dobra (1977–2017) (STD)

São Tomé & Príncipe Dobra (1977–2017)

Sao Tome and Principe are two small Portuguese-speaking islands approximately 140 kilometers apart in the Gulf of Guinea. The Dobra is the official currency of the islands and is represented by the symbol Db. The Dobra was pegged to the Euro in 2010 at a stable rate of 1 Euro = 24,500 STD.

The Sao Tome Dobra is the currency in Sao Tome and Principe (ST, STP). The symbol for STD can be written Db. The Sao Tome Dobra is divided into 100 centimos. The exchange rate for the Sao Tome Dobra was last updated on May 24, 2019 from Yahoo Finance. The STD conversion factor has 5 significant digits.

Economy

• Economic development in Sao Tome and Principe has been adversely affected by factors such as government decisions and natural disasters, as well as lack of resources.
• Cocoa has been the main contributor to economic development in Sao Tome and Principe for the past 34 years. However, this has been affected by disasters such as drought. Bananas, fish, cinnamon, beans, and poultry also contribute to agricultural production, but it does not meet the needs of the consumers.
• Modern economic development has been geared towards developing the large amount of oil said to be present in the Gulf of Guinea.
• The majority of manufactured goods are imported.
• The authorities have tried to decrease price controls and grants, but monetary development has remained inactive.

History

• The Escudo was replaced by the Dobra at a rate of 1:1.
• In 1996, banknotes were issued in denominations of 5,000, 10,000, 20,000 and 50,000 dobras.
• In 1997, coins were issued in denominations of 50 cêntimos, 1, 2, 5, 10 and 20 dobras.
• In 1997, banknotes were issued in denominations of 50, 100, and 1,000 dobra.
• In 2008, 10,000 dobra banknotes were issued.
• In 2010, the Dobra was officially pegged to the Euro at a stable rate of 1 Euro = 24,500 STD.

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ZMK - Zambian Kwacha (1968–2012) (ZMK)

Zambian Kwacha (1968–2012)

The Zambian Kwacha is the currency of Zambia, issued by the Bank of Zambia. The name Kwacha derives from the Nyanja and Bemba word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom".

The Old Zambian Kwacha is the currency in Zambia (ZM, ZMB). The symbol for ZMK can be written ZK. The Old Zambian Kwacha is divided into 100 ngwee. The exchange rate for the Old Zambian Kwacha was last updated on May 24, 2019 from Yahoo Finance. The ZMK conversion factor has 4 significant digits.

Economy

• Zambia's economy has experienced strong growth in recent years, with real GDP growth more than 6% per year since 2005.
• Copper output has increased, thanks to copper mine privatization, higher copper prices and more foreign investment.
• Record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008.
• Poverty remains a significant problem in Zambia, despite its stronger economy. Almost 70% of Zambians live below the national poverty line (almost 80% in rural areas).
• Zambia ranks among the world's poorest nations in a variety of economic and social statistics and surveys: GDP per capita, competitiveness, life expectancy, infant mortality, and so on. A high birth rate and relatively high rate of HIV/AIDS put further strain on the economy.

History

• Zambia gained independence from Great Britain in 1964. In 1968, the Zambian Kwacha replaced the Pound at a rate of two Kwacha = 1 Pound.
• Kenneth Kaunda was the first president of Zambia in 1964, and stayed in office until 1991. During his regime, the value of the currency was fixed at a rate of approximately 1.2 Kwacha to 1 US Dollar. Until 1991, all Zambian banknotes featured a portrait of Kaunda on the obverse side (his image was later replaced by an African fish eagle).
• A severe economic crisis stemming from poor government oversight and overspending contributed to high inflation throughout the 1990s and 2000s. By 2006, it took 4,800 Kwacha to buy one US Dollar. The currency has more recently stabilized.

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