Peseta Makes Comeback in Spanish Village

A village south-east of Madrid - Villamayor de Santiago - has taken steps to reintroduce Spain's old currency, the peseta, in an effort to boost the local economy.

Since re-introducing the peseta in January,  locals have spent nearly 6000 euros worth of pesetas. When the scheme end in February, the old currency will be taken to the Bank of Spain and exchanged for euros and then distributed to the business which have taken part.

Pesetas can still be exchanged at the Bank of Spain for euros.