The dobra is the currency of São Tomé and Príncipe. It is abbreviated Db and is divided into 100 cêntimos. The first dobra (STD) was introduced in 1977, replacing the escudo at par. Due to inflation, in 2018 the dobra was redenominated at a rate of 1000 to 1, and given the new ISO 4217 currency code STN. São Tomé and Príncipe signed a deal with Portugal in 2009, linking the dobra with the euro. The exchange rate was fixed at 1 EUR = 24,500 STD on 1 January 2010, which means that the new dobra is pegged to the euro at €1 = 24.5 STN / nDb. The name derives from Portuguese dóbra, meaning "doubloon."