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There is only one year left to exchange pesetas for euros: the deadline ends in December 2020

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The deadline to exchange pesetas for euros is over The Bank of Spain has set the next December 31, 2020 as the deadline to carry out this transaction, just eighteen years after the entry into Spain of the Community currency.

Financial institutions do not carry out this type of operation since June 30, 2020. Therefore, all pesetas tickets that are after 1939 They may be exchanged for euros at the headquarters of the Bank of Spain (Madrid) and at any of its branches. Tickets issued between 1936 and 1939 can also be exchanged after being analyzed by the Spanish central bank.

The coins They will have a different treatment. Only those that were in circulation on January 1, 2002 are admitted, since for the previous ones a redemption term was established at the time of their replacement that expired in 1997, according to the entity directed by Pablo Hernández de Cos. Commemorative or collector coins can be changed until December 31 of next year.

No money limit has been set to make the change, but the bank warns that current regulations regarding the prevention of money will be applied. money laundering, which establishes minimum obligations for identification and communication of transactions with cash.

1,610 MILLION EUROS WERE EXCHANGEED

As of November 30, 2019, the amount of unredeemed bills and coins amounted to 1,610 million euros, according to the latest data provided by the Bank of Spain. This amount represents 3% of the total balance of circulation on December 31, 2001, just before the arrival of the euro. Specifically, 819 million euros have not yet been changed in pesetas and another 791 million in currencies, representing 1.8% and 32%, respectively, of those circulating at the end of 2001.

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