Aguayo, born in Madrid, was the son of bullfighting photographer Baldomero Fernández Raigón. He was an amateur bullfighter in his youth,[3] but he earned his living as a photographer. He entered the film world after having worked on a report about the filming of Currito de la Cruz.[4] He was hired as an assistant to operator Enrique Guerner.[5] He worked as a reporter for the Second Spanish Republic and the Junta de Defensa de Madrid (Board of Defence of Madrid), circumstances which forced him to use his second last name to continue developing his career, as a reporter. Among his work, the following stand out: Locura de amor (Craziness of Love), Dónde vas Alfonso XII (Where are you Going Alphonse XII), Viridiana, El extraño viaje (The Strange Journey) and Tristana. He stopped his professional activities in 1983.