1. A person who backs down from a fight or a confrontation; a ranker; a leva; a pussy.

2. Another name for a U.S. quarter (coin).

(Peseta has its origins in L.A. slang primarily used by Chicanos, and Mexicans, but spreading in popularity amongst other groups).
1. Homie #1: When I went up that vato and hit him up for doggin' me, the fucken ranker started running like a lil bitch.

Homie #2: Ha! Ha! Fuckin peseta, homes. You put him on the leva, ese.

2. Ey, carnal, trais una peseta? Necesito lavar mis calcetines.
Trans.: Hey, bro, do you have a quarter? I need to wash my socks.
by El Muñeco December 9, 2005
the curency(money) they used in spain befor the euros came they are egual to a english pound.
i will pay you cinco pesetas for five english pounds
by Alexa corsova July 10, 2005
Basic monetary unit of Spain, equal to 100 centimos
The Spanish peseta was used until the introduction of the euro in 2002.
by bluestinger66 September 2, 2022