As of January 1st, 2002, the currency of Spain, like that of most European Union countries, is the EURO. One Euro is divided into 100 centimes. There are eight different coins worth 1, 2, 5, 10, 20, and 50 centimes, and 1 and 2 Euros. Banknotes come in 7 denominations: 5, 10, 20, 50, 100, 200, and 500 Euros. Tourists may bring up to 6,010.12 Euros (approximately $5,724.00) without declaring the amount at customs.