What money do Spanish speaking countries use?
We get a lot of questions about the currencies of Spanish speaking countries. If you are going to be traveling to a Spanish speaking country, you’re going to need to get some of the local currency! It’s also a good idea to know what the money is worth, and how it is divided up into cents. That will help you avoid getting taken advantage of by vendors (it does happen).
What currencies will I need when traveling to a Spanish speaking country?
To help you get acclimated, here is a list of the various currencies in Spanish speaking countries, and some important information about them. Once you have familiarized yourself with this list, you’ll be ready to spend some cash!
Currencies of Spanish speaking countries
| Country | Currency | Cents | Symbol | Former currency | ISO 4217 currency code | Exchange rate per $1 USD (as of 7/2020) |
|---|---|---|---|---|---|---|
| Argentina | Peso | 100 centavos | $ | austral (replaced 1992) | ARS | 72.14 |
| Bolivia | Boliviano | 100 centavos | Bs | Bolivian peso (replaced 1987) | BOB | 6.90 |
| Chile | Peso | 100 centavos | Ch$ | escudo (replaced 1975) | CLP | 765.20 |
| Colombia | Peso | 100 centavos | Col$ | real (replaced 1810) | COP | 3724.90 |
| Costa Rica | Colón | 100 céntimos | ₡ | peso (replaced 1896) | CRC | 581.52 |
| Cuba | Peso | 100 centavos | Cu$ | CUP | 1.00 | |
| Dominican Republic | Peso | 100 centavos | RD$ | gourde (replaced 1844) | DOP | 58.55 |
| Ecuador | U.S. Dollar | 100 centavos | $ | sucre (replaced 2000) | ||
| El Salvador | U.S. Dollar | 100 centavos | $ | colón | SVC | 8.75 |
| Equatorial Guinea | Franc | 100 céntimos | FCFA | Ekwele (replaced 1985) | ||
| Guatemala | Quetzal | 100 centavos | Q | GTQ | 7.70 | |
| Honduras | Lempira | 100 centavos | L | peso (replaced 1931) | HNL | 24.94 |
| Mexico | Peso | 100 centavos | Mex$ | MXN | 21.95 | |
| Nicaragua | Córdoba | 100 centavos | C$ | peso (replaced 1912) | NIO | 34.58 |
| Panama | Balboa | 100 centésimos | B/ | peso (replaced 1904) | PAB | 1.00 |
| Paraguay | Guaraní | 100 céntimos | peso (replaced 1943) | PYG | 6933.33 | |
| Peru | Sol | 100 céntimos | S/ | inti (replaced 1991) | PEN | 3.52 |
| Puerto Rico | U.S. Dollar | 100 centavos | $ | Puerto Rican Dollar (replaced 1898) | ||
| Spain | Euro | 100 céntimos | € | peseta (replaced 2002) | EUR | 0.85 |
| Uruguay | Peso uruguayo | 100 centésimos | $U | nuevo peso (replaced 1993) | UYU | 42.54 |
| Venezuela | Bolívar soberano | 100 céntimos | Bs.S | bolívar fuerte (replaced 2018) | VEF | 248209.92 |
*Note that while the peso is used across various Latin American countries, it is typically regulated by each country individually.
**In some Latin American countries, the dollar symbol ($) is also used for their local currency. To avoid ambiguity, particularly in touristy areas, it’s not uncommon to see the abbreviation M.N. (moneda nacional) to provide additional context and clarity.
***You will notice that in some countries (such as Paraguay and Venezuela, for instance), thousands of the local currency will be needed to equate a single U.S. dollar. As you can imaging, a cent is worth nearly nothing in these countries, so they are rarely used practically.
Since the U.S. Dollar is by far the most popular currency in the world (not to mention that it is considered the de facto global currency by central banks as a foreign reserve currency), it’s easy to forget that there are tons of other local currencies out there. This list should help you master the various currencies of Spanish speaking countries.
It will also be helpful for you to know that Dinero means money, and cent can typically be referred to as either Centavo, Céntimo, or Centésimo, depending on where you are. If you don’t have cash for that Spanish country, you may want to check ahead of time if the vendor accepts Tarjeta de crédito (Credit card) or Tarjeta de débito (Debit card). If not, you will want to hit up the Banco (Bank), Cajera automática (ATM) or Casa de Cambio (Exchange House). Just don’t overdraw your Cuenta de cheques (Checking account).
Useful phrases when dealing with Spanish currency
- ¿Puedo cambiar dólares por __? = Can I exchange dollars for __?
- ¿Me puedes dar billetes de bajo importe? = Would you mind giving me small bills?
- ¿Cuánto cuesta? – How much does this cost?
- Es tan caro = It’s too expensive.
- Es tan barato = It’s too cheap.
- Lo compro. – I’ll take it
- Plus: tons of different ways to say “Thanks” in Spanish
Thanks for reading about Spanish currencies. Next up, master Spanish pronunciation with Spanish tongue twisters, or learn more about how to practice Spanish while driving.
