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
Famous quotes containing the word introduction:
“For better or worse, stepparenting is self-conscious parenting. You’re damned if you do, and damned if you don’t.”
—Anonymous Parent. Making It as a Stepparent, by Claire Berman, introduction (1980, repr. 1986)
“Such is oftenest the young man’s introduction to the forest, and the most original part of himself. He goes thither at first as a hunter and fisher, until at last, if he has the seeds of a better life in him, he distinguishes his proper objects, as a poet or naturalist it may be, and leaves the gun and fish-pole behind. The mass of men are still and always young in this respect.”
—Henry David Thoreau (1817–1862)
“For the introduction of a new kind of music must be shunned as imperiling the whole state; since styles of music are never disturbed without affecting the most important political institutions.”
—Plato (c. 427–347 B.C.)