Regulatory Alerts2017-12-12
Republic Gazette - Law No. 17/2017 - New Monetary Law
The National Assembly of São Tomé and Príncipe enacted Law No. 17/2017 to establish the Dobra (Db) as the official monetary unit and introduce a new family of banknotes and coins with updated denominations, face values, and conversion ratios. The legislation mandates that Dobra notes and coins serve as mandatory legal tender with unlimited discharge power for banknotes and limited (250 per denomination) for coins, while defining numerical formatting rules and exchange conditions for damaged currency. Furthermore, the law criminalizes counterfeiting, illegal circulation, and unauthorized cross-border movement of currency, simultaneously revoking the prior 1977 Monetary Law to consolidate these monetary standards.
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