200 ₧ and 500 ₧ notes were withdrawn in 1992 and replaced by coins, leaving 1,000 ₧ as the smallest note. Coins ranged from 1 ₧ to 500 ₧. In that year, a series of coins commemorating 1992 Summer Olympics in Barcelona and Expo '92 in Seville were issued. Spain was hit heavily by the early 1990s recession and the peseta was devalued three times, the first of them being just after Black Wednesday, plummeting from 100 ₧ to 130 ₧ per US$1.