Spanish Presentation by Nikhil and Rishub

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Spanish Presentation by Nikhil and Rishub

  1. 1. Spanish Currency<br />By Nikhil Goel and Rishub Kumar<br />
  2. 2. History of the Peseta<br />The peseta – Curreny of Spain (1869-2002)<br />Spain joined Latin Monetary Union in 1868<br />Political turbulence seperated the LMU<br />Spain joined Bretton Woods System<br />Monetary system to rebuild economies after WWII<br />Peseta was replaced with the Euro in 2002<br />
  3. 3. Subunits and Conversions<br />Subdivided into 100 céntimos or 4 reales<br />Subunits out of circulation by 1970s<br />The peseta = 4.5 grams of silver or 0.290322 gram of gold during LMU<br />Bretton Woods System: 60 pesetas = 1 dollar<br />In 1967, peseta value dropped; 168 pesetas = 1 dollar<br />
  4. 4. Current Spanish currency<br />Spain uses Euros currently<br />Euros were first used in Spain in 2002<br />This currency is used in 16 out of 27 countries in Europe<br />The Euro is the second most traded currency in the world after the U.S dollar<br />
  5. 5. Exchange rate<br />In finance, exchange rates between two currencies specifies how much one currency is worth in terms of the other<br />The current exchange rate of the Euro for a U.S. dollar is –1 Euro = 1.5092 U.S. dollars or1 U.S. Dollar = 0.6619 Euros<br />
  6. 6. Characteristics<br />Euro Sign is €<br />Euro is divided into 100 cents<br />
  7. 7. Usage<br />Euro is managed and administered by the European Central Bank (ECB) and the Euro system.<br />

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