Skip to content

Money, Money, Money, Money

Either the Spanish people are a very funny lot or else, there is a lot of black money around here in Spain. The Banco de España let it be known that the old Peseta banknotes are still valid, almost eight years after the Spanish currency was replaced by the Euro. According to the Spanish National Bank, there are still something like 155,000,000,000 Pesetas (to the value of 932,000,000 €) in banknotes stashed away under Spanish mattresses or wherever, plus a slightly smaller amount in old Peseta coins.

This staggering amount of paper money, but not the coins, can still be exchanged at the rate of 166.368 at any local branch of the Banco de España of which there is one in Palma de Mallorca. I believe that no questions will be asked as long as these Peseta banknotes are not registered, as they would be were they coming from a bank robbery or such like. Every year, Pesetas to the value of 1,000,000 € seem to be cashed in that way, on average.

Some businesses up and down the Spanish mainland have also let it be known that Peseta banknotes are accepted by them as a payment method as long as proper purchases are being made. Blimey. Anything to get the economy going.

Sadly, I don’t have any old Spanish banknotes lying around, so I can not offer you a photo of my own making. Instead, the photo was taken from the Internet, courtesy of

Muchas gracias.

3 replies »

  1. Perhaps it comes from a distrust in the Euro, & as you say, money needs to circulate to get the economy going & it probably doesnt really matter exactly what money.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

December 2009


  • 1,552,091 visits


Copyright © November Press 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018

Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to November Press and Mallorca Daily Photo Blog with appropriate and specific direction to the original content.

Copyleft ©© Klaus Fabricius 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

%d bloggers like this: