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 euro has eight coin denominations: 1, 2, 5, 10, 20 and 50 cents, and 1 and 2 euros, while bank notes come in denominations of 5, 10, 20, 50, 100, 200 and 500 euros