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Currency. The Euro is the official currency of Spain. The Euro was launched in two stages. First, in January 1999, to became the new official currency of 11 EU Member States, replacing the old national currencies -- such as the Spanish Peseta. It was introduced in the virtual form for bank transactions. The second stage, in January 2002, was when the Euro officially appeared in circulation.
From the 1st of January 2002 the Euro was accepted as the only official coin in Spain (with the symbol â¬) which equals 100 cents.There are coins and notes of different values. The coins are 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, 1 Euro and 2 Euros.ther means of payment: Itâs also possible to pay in the Canary Islands with Credit or Debit Card. This is a common, practical way of paying. It will allow you to avoid carrying money and itâs a very safe way of paying.