The
peseta was the former currency of
Spain and, (along with the
French Franc ), of
Andorra until
1999 (de facto, 2002). It was originally divided into 100 céntimos or, informally, 4 ''reales''.
It is also
Nuyorican slang for a
U.S. Quarter .
The
peseta is also the currency used in the game
Resident Evil 4 .
Denominations
At the time of the changeover to the Euro, the following
Coin s were being produced
{Link without Title} :
- 1 Peseta: (0.60 cent)
- 5 Pesetas (3 cent) ("duro")
- 10 Pesetas (6 cent)
- 25 Pesetas (15 cent)
- 50 Pesetas (30 cent)
- 100 Pesetas (60 cent)
- 200 Pesetas (1.20 €)
- 500 Pesetas (3 €)
New
Banknote s were:
Old
Banknote s were:
History
The peseta (₧) was introduced in the second half of the 19th Century when
Spain was preparing to join the
Latin Monetary Union .
Spain joined in 1868, the same year when the first Peseta was minted. The peseta replaced the ''
Escudo '' as the chief monetary unit, at a rate of 2½ pesetas = 1 escudo.
The peseta was equal to 4.5
Gram s of
Silver or 0.290322 grams of
Gold , the standard used by all the currencies of the Latin Monetary Union (including the
French Franc and
Italian Lira ). Unfortunately, due to the political turbulences of the early 20th Century the monetary union faded away in the 1920s though was not till 1927 that the union came to an end officially.
The Peseta was replaced by the
Euro (€) in 1999 on currency exchange boards. Euro
Coins and
Notes were introduced in January 2002, and from
March 1 , 2002, the peseta is no longer legal tender in Spain and Andorra. The exchange rate was 166.386 pesetas to the
Euro (thus 3 Euros are approximately 500 ₧).
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The name is believed to have been derived from the
Catalan word "peceta", meaning "little piece" (diminutive of "peça").
Peseta notes and coins that were
Legal Tender on December 31, 2001, remain exchangeable indefinitely at any branch of the central bank.
See also
External links
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