The currency of Spain is the Euro, abbreviated as EUR. Spain adopted the Euro in 2002, replacing its previous currency, the Spanish Peseta. As a member of the Eurozone, Spain uses the Euro for all financial transactions, aligning its economy with other European Union countries that also utilize this currency. The Euro is further subdivided into 100 cents and is recognized for its distinct banknotes and coins, which feature various designs symbolizing European unity and heritage. The introduction of the Euro aimed to facilitate trade, travel, and economic stability among member countries, enhancing integration within the European Union.