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The peso moneda nacional was replaced on 1 July 1975 by the nuevo peso (new peso; ISO 4217 code UYP) at a rate of 1 new peso for 1000 old pesos. The nuevo peso was also subdivided into 100 centésimos. After further inflation, the peso uruguayo (ISO 4217 code UYU) replaced the nuevo peso on March 1, 1993, again at a rate of 1 new for 1000 old.
The peso uruguayo ($; ISO 4217 code: UYU) was adopted on 1 March 1993 to replace the nuevo peso at 1 peso uruguayo for 1000 nuevos pesos. Withdrawal of old notes of N$500 and under began immediately; notes of 1,000 up to 500,000 nuevos pesos remained legal tender (for 1 to 500 pesos uruguayos) until 28 February 2003.
Uruguayan peso UYU Reserves: 15 160 million USD [1] Website: bcu.gub.uy: The Central Bank of Uruguay (Spanish: Banco Central del Uruguay, BCU) is the central bank ...
This law creates a new monetary system in which the Peso or Patacón is divided into 8 reales [7] and each one of them into one hundred centésimos (a system that will last until 1862) and authorizes the issuance of coins of 5 and 20 centésimos (for an amount of $20,000). These coins will be the first to bear national signs.
As of August 2008 almost 60% of bank loans use United States dollars, [19] but most transactions use the Uruguayan peso. [20] Today, the Uruguayan peso is minted in coins of 1, 2, 5, 10, and 50 pesos and in banknotes of 20, 50, 100, 200, 500, 1000, and 2000 pesos.
In July 2011 the government announced that Uruguay was soon to enter Phase 1 of an evaluation of nuclear energy, [a] providing 10 million Uruguayan pesos from the national budget to hire specialist advisers, consulting the population and reviewing the human resources and technology available.
Due to the COVID-19 pandemic, Uruguayan exports to China decreased by 1% in the first quarter of 2020. Imports fell by 10% during the same period. This decline is expected to have a negative impact on Uruguayan industrial sectors and product chains, particularly considering China's role as Uruguay's largest trading partner. [22]
In April 2024 over 400,000 signatures from citizens were brought to the consideration of the Electoral Court for a plebiscite to be authorized. [3] Originally conceived by its advocates with the purpose of overhauling the social security system, if approved by more than 50% of voters, the $23 billion scheme backed by the country's powerful leftist unions would lower the retirement age, boost ...