Uruguay

# **Oriental Republic of Uruguay**

## **Full Financial History Report**

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### **Basic Data:**

- **ISO Country Code:** UY
- **Official Language:** Spanish
- **ISO Language Code (main):** es
- **Current Official Currency:** Uruguayan Peso
- **ISO Currency Code (current):** UYU

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## **2. Currencies Circulated in Uruguay (since the beginning of monetary production)**

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### **2.1. Real (Spanish and Colonial Real)**

- **ISO Code:** —
- **Singular Name:** Real
- **Plural Name:** Reales
- **Monetary Subdivision:** 1 Real = 8 small reals / 1 Real = 100 centavos *(in some periods)*
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** c. 1680 *(during early colonial period)*
- **End Date of Production:** 1823
- **Start Date of Circulation:** c. 1680
- **End Date of Circulation:** 1823
- **Mint:** Casa de Moneda de Buenos Aires *(Argentina)*
- **Issuing Bank:** Not applicable *(used under colonial rule)*
- **Coin Denominations:** ½ real, 1 real, 2 reales, 4 reales, 8 reales
- **Banknote Denominations:** —
- **Historical Context:** Used during the Viceroyalty of the Río de la Plata and in the first decades after independence.
- **Designs / Symbols:** Included heraldic figures, crosses and colonial shields
- **Current Status:** Out of circulation
- **Issuing Authority:** Spanish Crown
- **Relevant Legislation:** Used under colonial mandate and republican transition
- **People Honored on Notes:** King Carlos IV, Spanish monarchy busts

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### **2.2. Strong Peso (UYF)** – **First National Issue (provisional currency)**

- **ISO Code:** UYF *(not officially assigned)*
- **Singular Name:** Strong Peso
- **Plural Name:** Strong Pesos
- **Monetary Subdivision:** 1 Strong Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1823
- **End Date of Production:** 1840
- **Start Date of Circulation:** 1823
- **End Date of Circulation:** 1840
- **Mint:** Not applicable *(limited minting or imported from Buenos Aires)*
- **Issuing Bank:** Banco de Resguardo *(temporary issuing authority)*
- **Coin Denominations:** ¼, ½, 1 strong peso
- **Banknote Denominations:** —
- **Historical Context:** Introduced as transitional currency after independence
- **Designs / Symbols:** Featured the sun, laurels and patriotic symbols
- **Current Status:** Out of circulation
- **Issuing Authority:** Provisional Government of Uruguay
- **Relevant Legislation:** Monetary Unification Decree *(1823)*
- **People Honored on Notes:** None *(no banknotes were issued in this period)*

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### **2.3. Current Peso (PMC)** – **Economic Unification**

- **ISO Code:** —
- **Singular Name:** Current Peso
- **Plural Name:** Current Pesos
- **Monetary Subdivision:** 1 Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1840
- **End Date of Production:** 1975
- **Start Date of Circulation:** 1840
- **End Date of Circulation:** 1975
- **Mint:** Royal Mint of London *(UK), Royal Mint of Paris* *(France)*
- **Issuing Bank:** Banco de la República Oriental del Uruguay *(later Banco de la República)*
- **Coin Denominations:** 1, 2, 5, 10, 20, 50 centavos; 1 current peso
- **Banknote Denominations:** 1, 2, 5, 10, 20, 50, 100, 500, 1000 pesos
- **Historical Context:** Replaced the strong peso to standardize the monetary system
- **Designs / Symbols:** José Gervasio Artigas, Battle of Las Piedras, natural landscapes
- **Print Runs / Commemorative Issues:** Notes commemorating the centenary of independence *(1930)*
- **Curiosities:** Was the main currency for over a century
- **Current Status:** Out of circulation
- **Issuing Authority:** Banco de la República Oriental del Uruguay *(later Banco de la República)*
- **Relevant Legislation:** Law Establishing the Banco de la República *(1857)*
- **Signatories on Notes:** President of Banco de la República, Minister of Finance
- **People Honored on Notes:** José Gervasio Artigas, Fructuoso Rivera, Juan Antonio Lavalleja

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### **2.4. Uruguayan Peso (UYU)** – **Current Official Currency (with reforms)**

- **ISO Code:** UYU
- **Singular Name:** Uruguayan Peso
- **Plural Name:** Uruguayan Pesos
- **Monetary Subdivision:** 1 Peso = 100 centésimos
- **Fraction Singular Name:** Centésimo
- **Fraction Plural Name:** Centésimos
- **Start Date of Production:** 1975
- **End Date of Production:** Ongoing
- **Start Date of Circulation:** 1975
- **End Date of Circulation:** In circulation
- **Mint:** Casa de Moneda de Montevideo *(founded in 1975)*
- **Issuing Bank:** Central Bank of Uruguay
- **Coin Denominations:** $0.01, $0.05, $0.10, $0.50, $1, $2, $5, $10
- **Banknote Denominations:** $20, $50, $100, $200, $500, $1000, $2000, $5000
- **Historical Context:** Introduced to fight high inflation and replace the peso moneda corriente
- **Designs / Symbols:** "Bicentenario" series featuring native fauna and historical figures
- **Print Runs / Commemorative Issues:** New security features and accessibility elements for visually impaired users
- **Curiosities:** The Central Bank issues commemorative coins for national and international events
- **Current Status:** Active
- **Issuing Authority:** Central Bank of Uruguay
- **Relevant Legislation:** Central Bank Charter *(1967)*
- **Current Signatories:** Governor of the Central Bank, Minister of Economy
- **People Honored on Notes:** José Gervasio Artigas, Juan Díaz de Solís, Eduardo Fabini *(musician), among others*

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### **2.5. Uruguayan Indexed Peso (UYI)** – **Brief Emission for Stabilization**

- **ISO Code:** UYI
- **Singular Name:** Indexed Peso
- **Plural Name:** Indexed Pesos
- **Monetary Subdivision:** 1 Indexed Peso = 1000 Uruguayan Pesos
- **Fraction Singular Name:** Indexed Unit *(did not circulate physically)*
- **Fraction Plural Name:** Indexed Units
- **Start Date of Production:** 1974
- **End Date of Production:** 1980
- **Start Date of Circulation:** 1974
- **End Date of Circulation:** 1980
- **Mint:** Casa de Moneda de Uruguay *(Montevideo)*
- **Issuing Bank:** Central Bank of Uruguay
- **Coin Denominations:** — *(used only as an accounting unit)*
- **Banknote Denominations:** — *(used only as an accounting unit)*
- **Historical Context:** Created to control inflation through wage and banking indexation
- **Designs / Symbols:** No physical notes or coins were issued
- **Current Status:** Withdrawn, used only as a technical reference
- **Issuing Authority:** Central Bank of Uruguay
- **Relevant Legislation:** Indexation Law *(1974–1980)*
- **Current Signatories:** N/A
- **People Honored on Notes:** N/A

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### **2.6. New Uruguayan Peso (UYN)** – **Short-Lived Reform (1993)**

- **ISO Code:** UYN
- **Singular Name:** New Uruguayan Peso
- **Plural Name:** New Uruguayan Pesos
- **Monetary Subdivision:** 1 New Peso = 1000 old pesos
- **Fraction Singular Name:** Old Peso
- **Fraction Plural Name:** Old Pesos
- **Start Date of Production:** 1993
- **End Date of Production:** 1993
- **Start Date of Circulation:** 1993
- **End Date of Circulation:** 1993 *(briefly used as accounting unit)*
- **Mint:** Casa de Moneda de Uruguay *(Montevideo)*
- **Issuing Bank:** Central Bank of Uruguay
- **Coin Denominations:** —
- **Banknote Denominations:** — *(used only as an accounting unit)*
- **Historical Context:** Temporary monetary reform to reduce large numbers before returning to standard peso
- **Designs / Symbols:** No physical notes issued
- **Current Status:** No longer in use
- **Issuing Authority:** Central Bank of Uruguay
- **Relevant Legislation:** 1993 Monetary Reform
- **Current Signatories:** N/A
- **People Honored on Notes:** N/A

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### **2.7. Uruguayan Peso (UYU)** – **Return to Original System (1993–Present)**

- **ISO Code:** UYU
- **Singular Name:** Uruguayan Peso
- **Plural Name:** Uruguayan Pesos
- **Monetary Subdivision:** 1 Peso = 100 centésimos
- **Fraction Singular Name:** Centésimo
- **Fraction Plural Name:** Centésimos
- **Start Date of Production:** 1993 *(after monetary reform)*
- **End Date of Production:** Ongoing
- **Start Date of Circulation:** 1993
- **End Date of Circulation:** In circulation
- **Mint:** Casa de Moneda de Uruguay *(Montevideo)*
- **Issuing Bank:** Central Bank of Uruguay
- **Coin Denominations:** $1, $2, $5, $10, $20
- **Banknote Denominations:** $50, $100, $200, $500, $1000, $2000
- **Historical Context:** Reestablished as main currency after elimination of indexed peso
- **Designs / Symbols:** Series with native animals and national heroes
- **Print Runs / Commemorative Issues:** Special $500 polymer note *(2020)*
- **Curiosities:** The Central Bank has a program for recycling old banknotes
- **Current Status:** Active
- **Issuing Authority:** Central Bank of Uruguay
- **Relevant Legislation:** 1993 Currency Reform Act
- **Current Signatories:** Governor of the Central Bank, Minister of Economy
- **People Honored on Notes:** José Gervasio Artigas, Juan Díaz de Solís, Eduardo Fabini *(composer), among others*

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## **3. Mints / Production Facilities**

- **Casa de Moneda de Uruguay** *(founded in 1975 – Montevideo)*
- **National Banknote Printing Facility** *(operated by the Central Bank of Uruguay)*

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## **4. Chronological Summary of Currency Changes**

| Year | Currency Change | Equivalence |
|------|------------------|-------------|
| 1823 | Real → Strong Peso | 1:1 |
| 1840 | Strong Peso → Current Peso | 1:1 |
| 1975 | Current Peso → Uruguayan Peso | 1:1000 |
| 1993 | Uruguayan Peso → New Uruguayan Peso | 1:1000 |
| 1993 | New Uruguayan Peso → Uruguayan Peso *(restored)* | 1:1 |

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## **5. Additional Curiosities**

- The current currency features native animals and national heroes on its notes
- Uruguay was one of the first South American countries to issue polymer banknotes
- Some older peso editions are now collectible items
- The Central Bank offers educational programs about Uruguayan numismatics

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## **6. Historical Issuing Authorities**

- **Banco de la República Oriental del Uruguay** *(previously Banco de la República)*
- **Central Bank of Uruguay** *(since 1967)*

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## **7. Key Monetary Legislation**

- **Law Establishing Banco de la República** *(1857)*
- **Central Bank Charter** *(1967)*
- **Monetary Reform Act** *(1975)*
- **Indexation Law** *(1974–1980)*
- **Currency Redenomination Act** *(1993)*

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## **8. Prominent Figures Featured on Banknotes**

- José Gervasio Artigas
- Juan Díaz de Solís
- Eduardo Fabini *(musician)*
- Pedro Figari *(artist)*
- Luis Batlle Berres *(politician)*
- Alfred Nobel *(special edition)*
- Gregorio de Laferrère *(writer)*

 

Fonte:

Autor do blog: Nilton Romani