# How to convert pesetas to euros

It has been a few years since the pesetas have ceased to be used as currency of the Spanish State and have been replaced by the euro, the European currency. Even so, you may need to go from pesetas to euros to know how much a price, rate, etc., corresponds to. that is still expressed in the old Spanish currency. That is why we want to explain the simple mathematical operation that you must apply and learn how to convert pesetas to euros.

Steps to follow:

#### one

The peseta (abbreviated as pta.) Was the currency used in Spain from 1868 until the introduction of the euro on January 1, 2002, with the aim of establishing a single currency for the European Union. Currently, the peseta is no longer in progress and can only be exchanged for its value in euros at the Bank of Spain offices and with a deadline of December 31, 2020.

In January 2015, the euro is already used in 19 of the 28 EU member states that are, alphabetically: Germany, Austria, Belgium, Cyprus, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands and Portugal.

#### two

When converting pesetas to euros, it is essential to be clear about the equivalence between both currencies:

€ 1 = 166'386 pesetas

In this way, to make the conversion, you only have to divide the amount of pesetas between the value of one euro, that is, between 166'386 and round the second decimal; rounding will be done downwards if the third decimal is less than 5 and upward if it is equal to or greater than 5.

#### 3

To see it more clearly, we will apply an example of how to go from pesetas to euros:

How much are 250, 000 pesetas in euros?

The result will be obtained by dividing 250, 000 / 166'386 = 1502'53026

Since the third decimal is zero, we must round the previous decimal to the low and, consequently, we have 250, 000 ptas. equivalent to € 1, 502'53.

#### 4

In case you would like to do it in reverse and convert from euros to pesetas, you would have to multiply the value in euros by its value, that is, by 166'386.

For example, if we want to convert the value of 250 euros in pesetas:

€ 250 x 166'386 = 41596'5

We see that those € 250 equals € 41, 596'50