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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.
Why Send Money To a Spain Bank Account. The national currency of Spain has been the Euro since 2002 when they replaced the Spanish peseta. The Euro is a much more transacted currency and is the second most used reserve currency in the world, after the US dollar. Real Estate: The prices on Spainâs property market are, on average, 40% below the numbers we saw before the crisis in 2007, but the specialists predict a slow and steady recovery.