peseta

peseta

[puh-sey-tuh; Spanish pe-se-tah]
noun, plural pesetas [puh-sey-tuhz; Spanish pe-se-tahs] .
1.
a bronze coin and monetary unit of Spain and Andorra until the euro was adopted, equal to 100 centimos. Abbreviation: P., Pta.
2.
a former silver coin of Spain and Spanish America, equal to two reals; pistareen.
3.
a former monetary unit of Equatorial Guinea: replaced by the ekuele in 1973.

Origin:
1805–15; < Spanish, diminutive of pesa a weight. See peso

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peseta (pəˈseɪtə, Spanish peˈseta)
 
n
the former standard monetary unit of Spain and Andorra, divided into 100 céntimos; replaced by the euro in 2002
 
[C19: from Spanish, diminutive of peso]

Collins English Dictionary - Complete & Unabridged 10th Edition
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peseta

former monetary unit of Spain. The peseta ceased to be legal tender in 2002, when the euro, the monetary unit of the European Union, was adopted as the country's sole monetary unit. In 1868 the peseta replaced the peso, which had been adopted in the 15th century and which was known in full as the peso de ocho ("piece of eight"), as Spain's currency. (The peso continues to be the monetary unit of many former Spanish colonies in North and South America.) Initially the peseta was established in anticipation of Spain's joining the Latin Monetary Union, which was created in 1865 and linked the currencies of France, Italy, Belgium, Switzerland, and later Greece; however, Spain eventually chose not to participate.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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