Status
Euro area member since 1 January 1999
Fixed conversion rate
€1 = 166.386 ESP
Adoption of the euro
Euro banknotes and coins were introduced in Spain on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as 'book money'. The dual circulation period,when both the Spanish peseta and the euro had legal tender status, ended on 28 February 2002.
Exchange of former national currency
To facilitate the changeover, deadlines were set for people to exchange their pesetas for euro: up to 30 June 2002 at the Banco de España and high-street banks, and subsequently only at the Banco de España. The final deadline for exchanging pesetas for euro was 30 June 2021.
Institutions
- Banco de España (Bank of Spain, also in English)
- Ministerio de Economía y Hacienda (Ministry of Economy and Finance)
- Real Casa de la Moneda – Fábrica Nacional de Moneda y Timbre (Royal Spanish Mint, also in English)