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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.
Home Spain Currency. Spain-Currency. Throughout its history, Spain has had several currencies. The escudo was in effect until 1869 when it was replaced by the peseta, which came about after Spain became part of the Latin Monetary Union the previous year.