The official currency of Uruguay is the Uruguayan peso, abbreviated as “UYU” and represented by the symbols “$” or “$U.” Issued by the Central Bank of Uruguay, the peso comes in both coins and banknotes.
Coins:
1, 2, 5, 10, and 50 pesos
Banknotes:
500, 1,000, and 2,000 pesos
If you’re travelling to Uruguay or just curious about its currency, here’s a deeper dive into the peso’s history and some surprising facts.
5 Facts About the Uruguayan Peso
- It’s Uruguay’s fourth peso.
Uruguay has used four different peso currencies throughout its history. In the 1830s, it began with the peso fuerte (meaning “strong peso”). By the early 20th century, a gold-standard peso was introduced, which lasted until inflation took hold after World War I.Following World War II, the country adopted the nuevo peso (“new peso”), but inflation persisted. The current currency, the peso uruguayo, was introduced in 1993 to stabilise the economy once again. - Coins feature native animals.
The latest coins depict Uruguay’s wildlife, including the mulita (armadillo), capybara, rhea (a large bird), and puma. The reverse side of each coin displays the national shield. - The currency is manufactured abroad.
Uruguay has outsourced its currency production since 1855. Coins and banknotes are minted and printed in countries such as Britain and the United States. - A hero’s portrait on coins may not be accurate.
José Gervasio Artigas, who led Uruguay’s fight for independence from Spain in 1811, is a national hero. While he’s featured on many coins, the depiction may be speculative — the only known painting of Artigas was done when he was 82 years old. The youthful image on coins is an educated guess. - The $U50 coin is a rarity.
The 50-peso coin was minted in limited numbers in 2011 to celebrate the 200th anniversary of the Uruguayan Revolution, making it seldom seen in circulation.
The Uruguayan Peso Exchange Rate
To find the current exchange rate between the Uruguayan peso and other currencies, check a reliable source or exchange platform such as Remitly.
About Uruguay
Located on the Atlantic coast of South America, Uruguay borders Brazil to the north. The name “Uruguay” comes from the Guarani language, and the country is home to approximately 3.5 million people, with two-thirds living in and around the capital, Montevideo.
Uruguay stands out for its egalitarian society, high per-capita income, and minimal levels of extreme poverty. Agriculture plays a significant role in the economy, employing 13% of the workforce, while tourism attracts visitors from neighbouring Argentina and beyond. Other economic highlights include the Port of Montevideo, an advanced telecommunications sector, and a renewable energy programme that supplies over 97% of the country’s electricity.
Sending Money to Uruguay
If you need to send funds to Uruguay, platforms like Remitly make it quick and secure. New customers may benefit from special offers on their first transfer, making it easier than ever to support friends and family abroad.
