The backs of Spanish sofas or the bottom of drawers still hold 1.713 billion € worth of notes and coins in pesetas. In times of crisis such as now the amount is even more remarkable; enough to buy all the shares of the BME, the Spanish Stock Markets Holding which groups together the four Spanish markets.
The amount is also the same as the budget for the Judiciary in the State Budgets for 2011.
The Bank of Spain says that at the end of July there were still 901 million € in pesetas notes, and 812 million € in peseta coins, showing that 16 million € had been exchanged since the same time in 2010.
If have pesetas you can still exchange them, but the Bank of Spain warns that only coins and notes which were legal currency at the introduction of the Euro will be accepted. That means the notes issued after 1997, and those dating from 1939 and the Civil War will have to be examined to determine their value.
Meanwhile the number of 500 € notes in circulation has fallen, according to the Bank of Spain. Data for July shows that there are 500 € notes worth a total of 50.717 billion € in circulation, 170 million less than in June, and 2.378 billion € down on July 2010.
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