Please be aware that this is the current commercial rate and not the rate of exchange in the shops in Tenerife.
To get a more accurate rate, subtract three points from the rate shown. For instance, a commercial rate of 1.24, is likely to give you a rate of 1.21 in the shops.
We would also like to point out that there are many shops offering exchange services that are not legally allowed to do so. Supermarkets, jewellers and tobacco shops have not normally been licensed by Banco de Espana and cannot guarantee the authenticity of the banknotes.
Many exchange shops are going out of business due to this illegal activity, and we would recommend that you ask any shop exchanging currency, where they are displaying their licence.