What was the currency of Spain before the euro entered circulation in 2002?

The Spanish peseta was Spain’s currency before the euro entered circulation in 2002.

Spain introduced the peseta in 1868, after joining the Latin Monetary Union’s monetary framework. It was divided into 100 céntimos and circulated in coins and banknotes for more than a century. The name may derive from “peceta,” a Catalan diminutive related to “piece.”

The peseta continued after Spain adopted the euro as an accounting currency in 1999. Euro notes and coins replaced peseta cash on 1 January 2002, during the changeover shared by several participating European countries.

The peseta is sometimes confused with older Spanish currencies, including the escudo and real. Those units belonged to earlier monetary systems and were no longer Spain’s national currency when the peseta was introduced.