Note: This currency has been replaced by the Euro.
Overview
The Andorran Peseta (ADP) was the currency for Andorra, a small country between the borders of Spain and France. This independent republic used the French Franc and Spanish Peseta until the end of 1999, when the Franc and Peseta were replaced by the Euro. All coins and notes of the Peseta and the Franc remained legal in bank transactions until the end of 2002. Andorra is in the process of negotiating to produce their own Euro coins.
Economy
Andorra’s main industries are banking, tourism, furniture, timber, and cattle.
Agricultural products in Andorra are rye, vegetables, wheat, sheep, oats, and barley.
The main exports are tobacco and furniture.
Tha main imports are food, electricity (from France and Spain), and consumer goods.
Andorra’s banking sector is known as a tax haven and this contributes to the country’s economic growth.
Tourism accounts for 80% of the country’s GDP.
History
From 1869 to 2002 the Peseta was the currency for both Andorra and Spain.
In 1936, during the Spanish Civil War, the Peseta = 100 centims. Andorra became part of the Spanish Peseta money system.
In 1959 Spain pegged the peseta to the US Dollar at 1 USD = 60 pesetas.
In 1999 the Spanish peseta was replaced by the Euro.
The Spanish stopped minting Peseta coins in the year 2001.
Spanish banknotes were used in Andorra until 2002 (1 euro = 166 pesetas). Andorra did not print banknotes or coins.
