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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.
It underwent several changes in value relative to other units throughout its lifetime until it was replaced by the peseta in 1868. The most common denomination for the currency was the silver eight-real Spanish dollar (Real de a 8) or peso which was used throughout Europe, America and Asia during the height of the Spanish Empire.
Copper coins, which dominated currency circulation in Spain during the 17th century, were not minted again in Spanish America until the end of the 18th century. (The reason why copper coinage was not utilized in the Spanish colonies as small change is unresolved and a matter of dispute among economic historians.
The name of the currency derives from peceta, a Catalan word meaning little piece, from of the Catalan word peça (lit. piece, "coin"). Its etymology has wrongly been attributed to the Spanish peso. [2] The word peseta has been known as early as 1737 to colloquially refer to the coin worth 2 reales provincial or 1 ⁄ 5 of a peso.
The Spanish dollar and Mexican peso served as a global silver standard reserve currency, recognized all over Europe, Asia and the Americas from the 16th to 20th centuries. They were legal tender in the United States until 1857 and in China until 1935. The 18th and 19th century Spanish dollar and Mexican peso were widely used in the early United ...
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The principal lubricants of the economic expansion, however, were the hard currency remittances of one million Spanish workers abroad, which are estimated to have offset 17.9% of the total trade deficit from 1962 to 1971; the gigantic increase in tourism that drew more than 20 million visitors per year by the end of the 1960s, accounting by ...
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