UYU


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UYU

The ISO 4217 currency code for the Uruguay Peso Uruguayo.

UYU

ISO 4217 code for the Uruguayan peso uruguayo. It was introduced in 1993, replacing the Uruguyan nuevo peso after a period of hyperinflation. The peso uruguayo historically has been subject to high inflation. Until 1982, the peso was on a crawling peg to the U.S. dollar. The end of this peg drove many businesses into bankruptcy because most large debt in Uruguay was denominated in dollars. After a banking crisis in 2002, the peso appreciated against the dollar for the first time in the mid-2000s.