Introduction
Uruguay obtained monetary stability in 1896, based on the gold standard. This favorable state of affairs ended after World War One. An unsettled period followed. Economic difficulties after World War Two produced inflation, which became serious after 1964 and continued into the 1970s.
The peso was replaced in November 1973 by the nuevo peso (new peso; ISO 4217 code: UYN) 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.
Read more about this topic: Uruguayan Peso
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