What Is the Money Called in Spain?

Spain is a member of the European Union, and therefore, uses the euro. As of February 2015, one euro is roughly equal to one United States dollar in value though currency frequently fluctuates slightly in value. The euro is divided into 100 cents, or "centimos" in Spanish.

Prior to the euro, the currency of Spain was the "peseta." The peseta was used in Spain from the middle of the 19th century until the implementation of the euro in the early 21st century. The term "peseta" is derived from a word of Catalan origin that means "piece." The pieces to which it referred were silver coins. Before the peseta, Spanish currencies included the "real" and the "escudo."