What Currency does Uruguay Use?

What Currency does Uruguay Use?

Uruguay uses the Uruguayan peso (UYU) as its official currency.

It’s subdivided into 100 centésimos, although centésimos are no longer in use.

The Uruguayan peso has undergone several changes since its introduction, with the current peso uruguayo being adopted in 1993.

You can exchange Uruguayan pesos with other currencies, like the Nigerian naira (NGN). As of the current exchange rate, 1 Uruguayan peso is equivalent to approximately 37.66 Nigerian nairas.

Interestingly, due to the country’s history of inflation and economic instability, prices for big-ticket items like real estate, cars, and executive salaries are often denominated in US dollars.