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The official currency of Spain since 2002 is the Euro. The basic and most prevalent unit of Spanish currency before the Euro was the Peseta . The first Peseta coins were minted in 1869, and the last were minted in 2011.
The peseta, previously not a monetary unit but a colloquial name for the coin worth 1 ⁄ 5 of a peso, was formally introduced as a currency unit in 1868, at a time when Spain considered joining the Latin Monetary Union (LMU). [10] Spain eventually decided not to formally join the LMU, although it did achieve alignment with the bloc. [11]
All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
Shaw, W.A. (1967) [1896], The history of currency 1252 to 1894: being an account of the gold and silver moneys and monetary standards of Europe and America, together with an examination of the effects of currency and exchange phenomena on commercial and national progress and well-being, New York: G.P. Putnam's Sons, reprinted by Augustus M ...
The local name of the currency is used in this list, with the adjectival form of the country or region. ... Spanish escudo – Spain; Euro (Eυρώ, Евро) ...
The European Currency Unit was an accounting unit used by the EU, based on the currencies of the member states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally pound sterling ) that day.
Image credits: Cornecopia #4. The most bizarre present I received was from two employees. It was a china lobster pot, with gold highlights, with china lobsters and crabs running all over it ...
Spain's adoption of the peseta in 1869 and its joining the Latin Monetary Union meant the effective end of the last vestiges of the Spanish dollar in Spain itself. However, the 5-peseta coin (or duro ) was slightly smaller and lighter but was also of high purity (90%) silver.