Uruguayan Peso


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Uruguayan Peso

The currency of Uruguay. 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.
References in periodicals archive ?
4 million Uruguayan pesos from the Inter-American Development Bank (IDB), paving the way for one of Uruguay s leading microfinance institutions to expand access to financial services for as many as 25,000 microentrepreneurs who own small stores in periurban areas.
MONTEVIDEO, June 25 /PRNewswire/ -- The Republic of Uruguay, in accordance with the schedule of its offer launched on June 24, 2008 to holders outside the United States (the "International Offer") of 14 series of outstanding foreign currency external bonds of Uruguay (the "Eligible Bonds") to exchange those instruments for either Uruguayan Pesos UI Bonds due 2030 (the "2030 UI Bonds") or U.
Dollars and Euros maturing on or prior to 2015 (the "Eligible Bonds") to exchange those instruments for either Uruguayan Pesos UI Bonds due 2030 (the "2030 UI Bonds") or U.