Since 2002, Spain has embraced the monetary unit of the European Union: the euro. The euro, which uses the symbol € and the currency code EUR, is the second most traded currency in the world’s foreign exchange markets. The currency is issued by the European Central Bank. In most countries that use the euro, the symbol is typically placed after the number, such as 1€. Before 2002, the former currency of Spain was the peseta but since it was only valid in Spain, we’re grateful for the change!