Uruguayan peso UYU

The Uruguayan peso is the official currency of Uruguay. One peso is divided into 100 centésimos. This currency is issued by the Central Bank of Uruguay. In circulation are 20, 50, 100, 200, 500, 1000, and 2000 peso banknotes, as well as 1, 2, 5, 10, 50 peso coins.

The Uruguayan Peso and Its History

The peso was introduced in Uruguay in 1975, replacing the old pesos at a rate of 1 new peso equal to 1000 old pesos, with one new peso divided into 100 centésimos. In 1993, the peso was revalued again, with 1 new peso replacing 1000 old pesos.

The Uruguayan Peso and Interesting Facts

Uruguayans have often had to revalue their peso. Due to significant currency instability, local currencies were converted to the US dollar, and all prices in stores were quoted in US dollars. After the prices were quoted in US dollars, Uruguayans saw a new phenomenon, the appreciation of the Uruguayan peso.