Only Fools and Horses is one of the most successful and longest-running British television sitcoms of all time. The show follows the exploits of two brothers, Del Boy and Rodney Trotter, and their eccentric grandfather, Grandad, as they try to make a living in Peckham, South London.
The show frequently made references to the market value of certain products and services, and the value of money in the United Kingdom. One such reference was the use of the Spanish currency, pesetas, which was the currency of Spain until 2002 when it was replaced by the euro.
In this article, we will take a closer look at how much is 1 million pesetas in Only Fools and Horses and what this would mean in terms of British currency today.
What is the Value of 1 Million Pesetas?
The peseta was the official currency of Spain from 1868 to 2002. During this time, the peseta was divided into 100 centimos. One million pesetas would have been equivalent to 10,000,000 centimos.
At the time of the show, 1 million pesetas was worth approximately £4,400. This was calculated using the exchange rate in November 1989, which was a rate of 248.2 pesetas to the pound.
How Much is 1 Million Pesetas in Today’s Money?
Today, 1 million pesetas equates to approximately £4,813. This is calculated using the current exchange rate of 0.49 euros to the pound, and the fact that 1 euro is equivalent to 166.386 pesetas.
The value of 1 million pesetas in today’s money would be significantly higher than it was in 1989 due to inflation and the introduction of the euro as the main currency in 2002.
What Would 1 Million Pesetas Have Bought in 1989?
In 1989, 1 million pesetas was a considerable amount of money. It would have been enough to buy a house in Peckham, or a luxury car, or on a luxury holiday.
In terms of everyday items, 1 million pesetas would have been enough to buy a fridge, a freezer, a washing machine, a television set, and a microwave. It could also have been used to buy a wardrobe, a bed, and a sofa.
How Does 1 Million Pesetas Compare to Other Currencies in 1989?
In 1989, 1 million pesetas was worth more than the equivalent amount in other major currencies. For example, 1 million pesetas was worth more than $5,000 USD, 5,000 French francs, or 5,000 German marks.
It was also worth more than any other European currency, including the Italian lira, the Dutch guilder, and the Portuguese escudo.
How Does 1 Million Pesetas Compare to Other Currencies Today?
Today, 1 million pesetas is worth less than the equivalent amount in other major currencies. For example, 1 million pesetas is worth less than $5,800 USD, 6,000 French euros, or 6,000 German euros.
It is also worth less than any other European currency, including the Italian euro, the Dutch euro, and the Portuguese euro.
What Are the Other References to Pesetas in Only Fools and Horses?
In Only Fools and Horses, pesetas are referenced several times. One example is in the episode “The Yellow Peril” when Del Boy is trying to sell a yellow car to a Spanish customer. He offers the customer 1 million pesetas, but the customer refuses, saying it is too much.
In another episode, “The Unlucky Winner Is…”, Del Boy wins a million pesetas in the Spanish lottery. He dreams of what he could do with the money, including buying a yacht and a villa in Spain.
What Is the Significance of the Peseta in Only Fools and Horses?
The peseta was used as a symbol of wealth and success in Only Fools and Horses. It was a way for the show to highlight the ambitions of the Trotter family, and the idea that money can buy happiness.
The show also demonstrated the importance of the peseta in Spanish culture. It was a way of connecting with the Spanish audience, who would have been familiar with the currency.
Conclusion
The peseta was a widely used currency in Spain until it was replaced by the euro in 2002. In Only Fools and Horses, 1 million pesetas was a significant amount of money, worth approximately £4,400 in 1989.
Today, 1 million pesetas is worth approximately £4,813, a significant decrease in value due to inflation and the introduction of the euro. The use of the peseta in Only Fools and Horses was a way of highlighting the ambition of the Trotter family, and the idea that money can buy happiness.