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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$500 and under began immediately; notes of 1,000 up to 500,000 nuevos pesos remained legal tender (for 1 to 500 pesos uruguayos) until 28 February 2003.
The dollar sign, also known as the peso sign, is a currency symbol consisting of a capital S crossed with one or two vertical strokes ($ or depending on typeface), used to indicate the unit of various currencies around the world, including most currencies denominated "dollar" or "peso".
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, [21] but most transactions use the Uruguayan peso. [22] 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In total, approximately 1/3 of the country's deposits were withdrawn and five financial institutions were left insolvent. The value of the Uruguayan peso fell, losing nearly half of its value against the U.S. dollar in 2002. Had there been proper bank regulation by Uruguayan authorities, the banking crisis could have been avoided entirely.
The Montevideo Stock Exchange or Bolsa de Valores de Montevideo (BVM), also known as the Bolsa de Montevideo, is the principal stock exchange of Uruguay.It is based in Montevideo and was founded in 1867.
El País is a national Uruguayan daily newspaper. It is based in the capital city of Montevideo and is regarded as the newspaper with the largest circulation in the country. [2] It was first published on September 14, 1918 and previously belonged to the same media group as the television network Teledoce.