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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.
Quick Answer. 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.