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CURRENCY

Spanish town brings back the peseta in bid to boost spending

They haven't been legal currency in Spain since 2002 but residents in one town in Valencia can now spend any old pesetas they have hidden away thanks to a scheme aimed at boosting spending during the coronavirus crisis.

Spanish town brings back the peseta in bid to boost spending
Old peseta notes and coins can be exchanged until the end of 2020. Photo: AFP

The Multipaterna Commerce and Services Association has launched a campaign that allows payment to be made with pesetas in certain establishments in Paterna, a town in the Valencian Community.

The campaign, which includes hardware stores, opticians, computer and electronics stores, real estate, florists, lingerie stores and parcel kiosks, will run until December 15th. 

For the rest of Spain those who still have the old currency there is still a few months left to convert them into euros, although they can’t spend them in shops.

Spaniards have been told that they have until December 31st 2020  to exchange their pesetas for euros and that applies for both bank notes and coins.

Any notes produced during the Franco era, which ran from the end of the Civil War in 1939 until the dictator's death in 1975 can be automatically changed by the Bank of Spain.

Those issued during the conflict can also be exchanged but the process will involve them being analysed by experts to confirm their authenticity.

And any coins still in circulation at the time that euros were brought in on New Year's Day in 2002 can also be exchanged at Bank of Spain headquarters in Madrid.

The exchange rate offered  by the Bank of Spain is 1 euro = 166,386 pesetas but the bank advised that commemorative coins and notes may be worth more as collectors' items than for their face value, which is all that will be offered in the exchange scheme.

The Bank of Spain estimates that pesetas worth some €1.61 billion are squirreled away in Spanish homes, cluttering up the drawers of old desks and trunks in dusty old attics.

Many will never see the light of the day and others have become collectors' items now worth more than their exchangeable value.

Spain adopted the Euro at the start of 2002 but pesetas were still legal currency during a transition period that lasted the first three months of that year.

Exchanges can be made in person at the Banco España building on Madrid's Calle Alcala or via a postal or online service, even available to those abroad.  For more information check out the official webpage of the Banco España HERE. 

By Conor Patrick Faulkner in Valencia

 

 

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FEATURE

REMINDER: What are the new Covid restrictions in Spain’s Valencia region?

If you live in or are soon visiting Alicante, Valencia or Castellón, these are the new eased restrictions for the coastal region starting on Monday May 24th 2021.

REMINDER: What are the new Covid restrictions in Spain's Valencia region?
Photo: Jose Jordán/AFP

The Comunidad Valenciana’s persistently low infection rate – currently 20 cases per 100,000 people over the past 14 days – has allowed regional authorities to ease coronavirus restrictions, some of the strictest in Spain since the start of the third wave in January.

Here’s what you need to know if you’re living in or visiting the Valencia region soon. 

Curfew

The curfew will remain in place in the region after May 24th but it will start later than previously, at 1am instead of midnight. That means that except for exceptional reasons, nobody can be outdoors from 1am to 6am. 

Valencian regional president Ximo Puig has stressed that if the epidemiological situation remains stable, the curfew – or toque de queda in Spanish – will be lifted as of June 7th.

Bars, cafés and restaurants

From Monday 24th, bars, restaurants and cafés can stay open until 12.30 am, one hour later than the previous closing time.

A capacity of 50 percent is allowed inside the premises and 100 percent on outdoor terraces. 

Sitting at the bar, smoking (including electronic cigarettes or hookahs) and dancing  indoors or outdoors are still prohibited.

Family and social gatherings

A limit of 10 people is established in public spaces both outdoors and indoors, except in the case of people who are living under the same roof. 

Inside homes and other private use spaces, the limit of 10 people also applies and only people from two households can gather.

Beaches and nature

The use of the mask is still mandatory when walking around on beaches, around swimming pools, lakes and other natural spaces.

However, as long as you can keep a distance of 1.5 metres with others, you will be allowed to take off your mask while sunbathing or sitting in one spot at the beach. 

If you’re going for a dip in the sea, you don’t have to wear a mask as it’s incompatible with swimming, whereas if you’re going for a stroll along the shore you do have to keep your mask on. 

Groups at the beach, swimming pool or in nature cannot exceed ten people.

Celebrations and events

The capacity is increased up to 75 percent for activities relating to celebrations, events or gatherings of a sporting, cultural or social nature, as well as for political rallies.

In churches and other places of worship it’s still important to abide by a safe distance of 1.5 metres between gatherers.

In enclosed spaces, a maximum of 3,000 people are allowed, while in open spaces, the limit is set at 4,000 people. 

In both cases, the capacity has to be separated into groups of 1,000 people each.

 In addition, eating and drinking will only be allowed in areas specially enabled for this purpose.

READ ALSO: 

How Spain’s Valencia region achieved one of Europe’s lowest infection rates

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