This is a list of currency of Spain . The current currency since 2002 is the Euro.
Currency | Date created | Date abolished | Initial Exchange rate | |
---|---|---|---|---|
Euro | 2002 | n/a | 1 euro = 166.386 pesetas | |
Peseta | 1869 | 2002 | 5 pesetas = 2 escudos | |
Silver escudo | 1865 | 1869 | 10 reales = 1 escudo | |
Gold escudo | 1535/1537 | 1849 | 1 escudo = 16 reales | |
Spanish real | mid-14th century | 1865 | 1 real = 3 maravedíes | |
Maravedí | 11th century | 14th century | ||
Spanish dinero | 10th century | 10th century |
The CFA franc is the name of two currencies, the West African CFA franc, used in eight West African countries, and the Central African CFA franc, used in six Central African countries. Although separate, the two CFA franc currencies have always been at parity and are effectively interchangeable. The ISO currency codes are XAF for the Central African CFA franc and XOF for the West African CFA franc. On 22 December 2019, it was announced that the West African currency would be reformed and replaced by an independent currency to be called Eco.
The euro is the official currency of 20 of the 27 member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 344 million citizens as of 2023. The euro is divided into 100 cents.
The European Currency Unit was a unit of account used by the European Economic Community and composed of a basket of member country currencies. The ECU came in to operation on 13 March 1979 and was assigned the ISO 4217 code. The ECU replaced the European Unit of Account (EUA) at parity in 1979, and it was later replaced by the euro (EUR) at parity on 1 January 1999.
The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription francorum rex used on early French coins and until the 18th century, or from the French franc, meaning "frank".
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. This data is published in three tables:
The peseta was the currency of Spain between 1868 and 2002. Along with the French franc, it was also a de facto currency used in Andorra.
A reserve currency is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency.
The euro area, commonly called eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies.
The European Exchange Rate Mechanism (ERM II) is a system introduced by the European Economic Community on 1 January 1999 alongside the introduction of a single currency, the euro as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe.
The franc, also commonly distinguished as the French franc (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced in 1795. After two centuries of inflation, it was redenominated in 1960, with each new franc (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc. Many French residents, though, continued to quote prices of especially expensive items in terms of the old franc, up to and even after the introduction of the euro in 2002. The French franc was a commonly held international reserve currency of reference in the 19th and 20th centuries. Between 1998 and 2002, the conversion of francs to euros was carried out at a rate of 6.55957 francs to 1 euro.
A currency symbol or currency sign is a graphic symbol used to denote a currency unit. Usually it is defined by a monetary authority, such as the national central bank for the currency concerned.
The euro sign ⟨€⟩ is the currency sign used for the euro, the official currency of the eurozone and unilaterally adopted by Kosovo and Montenegro. The design was presented to the public by the European Commission on 12 December 1996. It consists of a stylized letter E, crossed by two lines instead of one. Depending on convention in each nation, the symbol can either precede the value, or follow the value, often with an intervening space.
In international finance, a world currency, supranational currency, or global currency is a currency that would be transacted internationally, with no set borders.
The céntimo or cêntimo was a currency unit of Spain, Portugal and their former colonies. The word derived from the Latin centimus meaning "hundredth part". The main Spanish currency, before the euro, was the peseta which was divided into 100 céntimos. In Portugal it was the real and later the escudo, until it was also replaced by the euro. In the European community cent is the official name for one hundredth of a euro. However, both céntimo and cêntimo are commonly used to describe the euro cent.
The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union by 1999 for all EU states except the UK and Denmark.
The international status and usage of the euro has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro and replaced minor currencies tied to pre-euro currencies, such as in Monaco. Four small states have been given a formal right to use the euro, and to mint their own coins, but all other usage outside the eurozone has been unofficial. With or without an agreement, these countries, unlike those in the eurozone, do not participate in the European Central Bank or the Eurogroup.
The five-hundred-euro note (€500) is the highest-value euro banknote and was produced between the introduction of the euro in 2002 until 2019. Since 27 April 2019, the banknote has no longer been issued by central banks in the euro area, but continues to be legal tender and can be used as a means of payment. It is one of the highest-value circulating banknotes in the world, worth around 525 USD; 3,600 CNY; 70,575 JPY; 492 CHF, 9,060,000 LAK or 441 GBP as of January 2023. The note is used in the 25 countries which have the euro as their sole currency, with a population of about 343 million.
Andorra has a monetary agreement with the EU allowing it to make the euro its official currency, and permitting it to issue euro coins from 1 July 2013. They planned to issue their first coins by March or April 2014. On 23 December 2014, coins were delivered for pre-booked customers at the Government Administration Building, and actual circulation began on 15 January 2015.
The Euro Currency Index (EUR_I) represents the arithmetic ratio of four major currencies against the Euro: the American dollar, British sterling, the Japanese yen and the Swiss franc. All ratios are expressed in units of currency per Euro. The index was launched in 2004 by the exchange portal Stooq.com. Underlying are 100 points on 4 January 1971. Before the introduction of the European single currency on 1 January 1999 an exchange rate of 1 euro = DM 1.95583 was calculated.