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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.
However, although Euro is the official currency, there are people in Spain, specially of the older generations, who still feel comfortable to transact money in terms of the old Spain Currency ,Pesetas. It is in some parts of rural Spain that prices are still mentioned in Pesetas but finally are always paid in Euro.owever, although Euro is the official currency, there are people in Spain, specially of the older generations, who still feel comfortable to transact money in terms of the old Spain Currency ,Pesetas. It is in some parts of rural Spain that prices are still mentioned in Pesetas but finally are always paid in Euro.