Uruguayan pesos – the same dollar, only without the letter s

Uruguay is a small country clamped between Brazil, Argentina and the Atlantic Ocean. Uruguayans in the light of just over three million, and almost half of them live in the capital of the country – Montevideo. Uruguay created "gaucho" – free steppe cattle products, South American cowboys. Until now, this country is famous for meat and wool, but in recent years, tourism is becoming increasingly important for its economy. Along the ocean coast, a chain of fashionable resorts stretched, the most famous of which – Punta del Este, the venue of international festivals and summit meetings. Come to Uruguay mostly wealthy Argentine tourists. Russians there are still almost no visible, if not considered a few "Chelnotokov", flying into such a distance for excellent and relatively inexpensive sheepskins.

Uruguaya monetary unit is historically called "pesos". Literally translated from Spanish this word means "the weight" and reminds of those older times when the coins were not yet, and instead they used pieces of gold and silver, which weighed before paying.

In the second half of our century with "weight" Uruguayan money has no matter. They "Help" and chahli under the oppression of inflation.

Hyperinflation required the introduction of a new currency in 1975, which, without being causing slyly, and called – "New peso" (Peso nuevo). Inflation and it gradually plucked up to complete weightlessness, and in March 1993, throwing three last scratch from national money, the government introduced the current "Uruguayan Peso". Abbreviated it denotes u $ – do not confuse with US $. Changing coin is called "Stensimo" and equals 1/100 pesos.

It is impossible to say that on this trouble with inflation completely ended. For three years of existence U $ "fleece" almost twice, but still, compared to what was happening in the 70s, progress is. The current official exchange rate U $ to US $ – 7.26: 1.

In circulation in Uruguay, there are banknotes with a denomination of 1, 10, 50, 100, 200, 500 and 1.000 Uruguayan Peso. Metal coins minted with dignity 1, 5, 10 and 50 Spenses.

With the 1993 monetary reform of the old "New pesos" have not been derived from circulation. They stayed in circulation in the ratio of 1.000: 1 to the current monetary unit. Today, old bills, which, naturally, are no longer printed, have almost disappeared (due to natural wear). But formally, they are still a legitimate payment facility. "New pesos" Produced with dignity 50, 100, 200, 500, 1.000, 5.000 and 10.000.

Despite inflationary trouble, in Uruguay the right of citizens to freely exchange their currency on a foreign one was never questioned, and thanks to "Black" There is no foreign exchange market in the country.

The most familiar for Uruguayans foreign currency is the US dollar. Rich Argentineans also leave in Uruguay (and especially in the city of Colonia, which is bound by a direct ferry crossing with Buenos Aires) Many Argentine Pesos. But in principle, in banks of the country, you will not find problems with the exchange of any of the main currencies.

True, in Montevideo, the colony and at the resorts of the Atlantic coast, visitors usually go no money to banks, but in exchange offices (in Uruguay they are called Cambios). There, readily change cash of American dollars and travelers in this currency on local money. Course for checks is slightly lower than for cash. In some Cambios, modest commission will be charged for checking checks. The exchange rate for cash is close to the official, and commission for this operation, as a rule, do not take.

In Montevideo, many exchange offices are concentrated on Plaza Cagancha Square and the Avenida 18 de Julio street passing through it (in any case, on its segment that lies within the old city center. 18 De Julio is one of the longest streets of the Uruguayan capital, and where it runs into new areas, to look for Cambios no longer worth it).

You can change money in the colony in the port where passenger ferries come from Argentina, or on Central Street Avenida General Flores. Some exchange offices in Montevideo and colonies work without days off.

In the inner areas of Cambios found rarely. There must be to go to the bank. Banks in Uruguay are open to noon (Saturday and Sunday – weekends). Only in Montevideo they work until the evening: from 8.30 to 12.30 or 13.00, and after the lunch break – from 14.00 to 19.00.

In general, you can avoid money exchange, if you have your credit card with you. They are accepted by many restaurants, hotels and shops in Uruguay.