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This infobox shows the latest status before this currency was rendered obsolete. The peseta ( / p ə ˈ s eɪ t ə / , Spanish: [peˈseta] ) [ a ] was the currency of Spain between 1868 and 2002. Along with the French franc , it was also a de facto currency used in Andorra (which had no national currency with legal tender ).
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 second decimal currency of 1864, with a new silver escudo worth 1 ⁄ 2 dollar, 10 reales de vellón or 100 céntimos de escudo (not equivalent to the gold escudo). The real was only retired completely with the introduction in 1868 of the Spanish peseta , at par with the French franc , and at the rate of 1 dollar = 20 reales = 5 pesetas.
The dinero (diner in Catalan) was the currency of many of the Christian states of the Iberian Peninsula from the 10th century. [1] It evolved from the Carolingian denar (in Latin denarius) and was adopted by all Iberian Peninsula Carolingian-originated States: the Kingdom of Pamplona/Navarre, the Kingdom of Aragon, and the Catalan Counties.
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 ]
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.
Banknotes of the euro, the common currency of the eurozone (euro area members), have been in circulation since the first series (also called ES1) was issued in 2002. They are issued by the national central banks of the Eurosystem or the European Central Bank . [ 1 ]
The currency was introduced in non-physical form (traveller's cheques, electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently in that their exchange rates were locked at fixed rates against each other, effectively making them mere ...