Uruguayan Peso

About The Uruguayan Peso: The Currency of the Uruguay

Quick Facts About the Uruguayan Peso Notes

Country of Origin	Uruguay
Symbol	$ or $U
Currency Code	UYU
Nick Names
Minor units	Centésimo
Denominations (Banknotes)	$20, $50, $100, $200, $500, $1000, $2000
Motto
Identification Feature	All current Uruguayan Peso notes should have “Banco Central Del Uruguay” inscribed on the front and back.
Issuing Bank	Central Bank of Uruguay
In Circulation Since	1993

The Uruguayan Peso is the currency of Uruguay and legal tender in the South American country of Uruguay. The Uruguayan peso symbol is $U with the Centésimo being a minor unit. The Peso has been a standard currency in the region since colonial times and underwent several iterations over the years, with the current Uruguayan Peso starting circulation in the year 1993.

When it comes to the act of buy and sell Uruguayan Peso is used in most cases involving regular commodities, for high ticket transactions like “Real Estate”, however, the USD is preferred over the Uruguayan Peso owing to the Peso’s high inflation and faltering currency rate (the Uruguayan Peso to dollar is around 0.026).

History of the Uruguayan Peso

The Peso has been a common currency for Uruguay ever since the first European settlers arrived in the country. The country has been under the influence of many foreign powers over its brief colonial history. While the Spanish Peso remained the standard currency through most of its colonial history, at times currencies from other European colonies like Brazil and Argentina also circulated during its annexation and struggle over the region.

Following its independence in 1828, the first Uruguayan Pesos were minted, known as “Silver Pesos” whose value was equivalent to that of 8 Reales. The first paper Pesos however did not appear until much later in 1857.

Through most of the 20th century following the world wars, the Uruguayan economy had struggled to maintain a stable currency value as the Uruguayan Peso price was subjected to frequent falls and devaluation. The Uruguayan Peso symbol went through multiple changes and iterations over the years, with the current Uruguayan Peso starting circulation in the year 1993.

Countries Accepting the Uruguayan Peso

Amount in the Uruguayan Peso You Should Carry for Your Trip

The amount required to comfortably get by on your trip to Uruguay depends on several factors, ranging from accommodations to transportation. The cost of living is generally quite low in Uruguay as compared to some other American and European countries, with 2.14 being the current Uruguayan Peso to INR rate. A modest stay on a strict budget with public transport can cost as little as 1000 Uruguayan Peso per day, while a moderate stay with complimentary transport and dining can easily go up to $U 2400 per day. If you fancy the top shelf and luxury, then your daily cost can go upwards of $U 5000 per day. Carrying Uruguayan Peso forex cards is a great way to ensure a smooth stay in the country.

The economy of Uruguay has been subjected to high inflation. Although much more stable over the recent decades, the Uruguayan Peso exchange rate is subject to frequent changes. As such, you should monitor the live Uruguayan Peso rate before you buy Uruguayan Peso at the Uruguayan Peso currency exchange.