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Uruguayan peso (Spanish: peso uruguayo) has been a name of the Uruguayan currency since Uruguay's settlement by Europeans. The present currency, the peso uruguayo ( ISO 4217 code: UYU ) was adopted in 1993 and is subdivided into 100 centésimos , although centésimos are not currently in use.
The Uruguayan banks weathered the worldwide depression that began in 1873, but the government was overthrown in January 1875, and Mauá Bank declared bankruptcy in February. The new government suspended payment on its London debt, and on 8 May it decreed government currency notes the only recognized money for legal contracts.
Shaw, W.A. (1967) [1896], The history of currency 1252 to 1894: being an account of the gold and silver moneys and monetary standards of Europe and America, together with an examination of the effects of currency and exchange phenomena on commercial and national progress and well-being, New York: G.P. Putnam's Sons, reprinted by Augustus M ...
Money portal; A list of all currencies, current and historic. The local name of the currency is used in this list, with the adjectival form of the country or region ...
A currency is a kind of money and medium of exchange.Currency includes paper, cotton, or polymer banknotes and metal coins.States generally have a monopoly on the issuing of currency, although some states share currencies with other states.
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Banking Services. Banking has traditionally been one of the strongest service export sectors in the country. Uruguay was once dubbed "the Switzerland of America", mainly for its banking sector and stability. The largest bank in Uruguay is Banco República, or BROU, which is state-owned; another important state bank is the BHU. Almost 20 private ...
Digital currency is notoriously volatile, and those who try to time the price swings may find themselves buying high and selling low — gradually or quickly eating away at their capital.