Currency
Spain is one of twelve European Union countries who have changed over to a single currency, the euro (?). The transition period, which began on January 1, 1999, has been lengthy: euro notes and coins were scheduled to be issued by January 1, 2002, with pesetas remaining in place for cash transactions, at a fixed rate of 166.386 pesetas to 1 euro, and scrapped entirely at the end of February, 2002. When the new currency takes over completely, prices are likely to be rounded off - and if decimalization in the UK is anything to go by, rounded up. All prices in this guide are given in euros only. Euro notes will be issued in denominations of 5, 10, 20, 50, 100, 200 and 500 euros, and coins in denominations of 1, 2, 5, 10, 20 and 50 cents and 1 and 2 euros.
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