Information on currency : Spanish peseta

Page last updated on December 9, 2023

Currency code (ISO 4217):

ESP

Numeric code:

724

Currency symbol:

Subunit (quantity):

Centimo (100)

Country or territory:

Spain (ES)

Status:

No longer in use

Replaced by

Euro (EUR)

Exchange rate mechanism:

Monetary authority:

(created: )

The Spanish Peseta was the official currency of Spain before the country adopted the Euro. It was in use from 1869 to 2002.

The Spanish Peseta was introduced in the 19th century. It was replaced by the Euro on January 1, 2002, when Spain, along with several other European countries, adopted the common currency.

Subunits

The Spanish Peseta was divided into 100 centimos. Because of inflation, centimos were withdrawn from circulation in 1983

Coins and Banknotes

The Spanish Peseta had various denominations of coins and banknotes. Coins were issued in centimos and pesetas, while banknotes were issued in various denominations.

Euro Adoption

Spain adopted the Euro on January 1, 2002. From this date, the Spanish Peseta ceased to be legal tender, and all transactions switched to the Euro.

Since the adoption of the Euro, the Spanish Peseta is no longer in circulation, and any remaining banknotes and coins are considered collector's items. The Euro is now the official currency used in Spain.

Exchange Rate

The exchange rate at which the Spanish Peseta was replaced by the Euro was fixed at 1 Euro = 166.386 Spanish Pesetas.