Spanish nostalgia for the defunct ‘peseta’ is still very strong. This is demonstrated by the latest data from the Bank of Spain, who has said that we still retain in our possession a total of 273,871.3 million pesetas , the equivalent of 1,646 million euros. In the first seven months of 2016, the Spanish peseta traded 998.3 million, equivalent to 6 million euros.
Although the euro has now been 14 years in circulation, the Spaniards still retain a number of pesetas. Specifically, the body such as confirmed, the Spaniards kept close July to 846 million euros in bills (140,762.5 million pesetas) and 800 million euro coins (133,108.8 million pesetas).
The Bank of Spain has said that most pesetas that have been redeemed through July were tickets: 831.9 million pesetas that were changed by 5 million euros. Coins remaining one million euros, a total of 166.38 million pesetas, news agency Europa Press has changed.
CHANGE IS IN 2020 stop
The issuing bank estimated that 45% of the coins in pesetas that were outstanding before the introduction of the euro will never be estregadas the Bank of Spain for redemption, since they remain in Spanish hands as a collector’s item, or by deterioration, loss or leaving the country in the pockets of tourists.
However, it should be recalled that the Bank of Spain will no longer change pesetas into euros definitively on 31 December 2020 , so the Spaniards still have more than four years to return the 273,871.3 million of the old currency national and get the 1,646 million euros worth today.
The Spanish Government set in three months the period of coexistence for both currencies, from January 1, 2002, when it began circulating the euro in the pocket of the Spaniards, until 31 March of the same year, and since then and until the next 30th June established an exchange period of the coins and banknotes pesetas in bank offices. From 1 July this year, the Spaniards have to go to the Bank of Spain if they still have the old national currency.