The legal currency in Uruguay is the Uruguayan peso, in force since 1993. Its ISO 4217 code is UYU and its symbol is $, always written before the amount, without spaces.
This is exactly the same symbol that, apart from the US dollar, is used by other currencies with the peso denomination in other countries of the world (Argentina, Chile, Colombia, Cuba, the Philippines, Mexico and the Dominican Republic).
As of the date of this post (March 3, 2023), the exchange rate for the Uruguayan peso against the euro is:
- 1 euro = 41.40 Uruguayan pesos.
- 1 Uruguayan peso = 0.024 euros.
History of the Uruguayan peso
The history of the peso is closely related to the colonial powers that deputized the territory of Uruguay before its independence, Spain and Portugal.
In 1516, the Spanish explorer Juan Díaz de Solís (1470-1516) arrived in Uruguayan territory for the first time. During the colonial period, the region was a constant battlefield between the Spanish and Portuguese empires.
In 1680 the Portuguese founded the settlement of Colonia, the first large city in the country. And it wasn’t until 1726 that the Spanish established a firm footing in Uruguay.
On August 25, 1825, Uruguay declared its independence from the Empire of Brazil. The men led by Juan Antonio Lavalleja and Manuel Oribe, known as “The Thirty-Three Orientals”, rose up against Brazil to reincorporate the Banda Oriental (territory that comprised what is now Uruguay and part of the Brazilian domain) to the United Provinces of the Silver river.
This is the name used by the State that, after the triumph of the May Revolution of 1810, supplanted the Viceroyalty of the Río de la Plata.
But Uruguay did not have its own currency until 1862. That year a monetary regime based on silver and gold was established for the first time. The so-called silver peso thus replaced the old peso or current peso.
The high inflation that the Uruguayan economy suffered in the middle of the 20th century led to the creation of a new currency, called the “new peso”, which was in force between 1975 and 1993. This was finally replaced by the current Uruguayan peso. Originally, the Uruguayan peso was subdivided into 100 hundredths, although today the smallest fraction of that currency is $1.
The Central Bank of Uruguay (BCU), founded in 1967 and headquartered in Montevideo, is the exclusive issuing body of Uruguayan peso coins and banknote throughout the national territory.
Uruguayan peso coins
Currently there are Uruguayan peso coins with the following values: $1, $2, $5 and $10.
The current series of coins corresponds to the issue of January 2011, in what is known as the “new monetary cone” of the country. Since that date, previous design coins minted before that year are currently out of circulation. Keep that in mind.
On the obverse of Uruguayan coins, the country’s national coat of arms always appears with the legend: “República Oriental de Uruguay”. In the reverse design of all Chilean coins, the face value is shown accompanied by the image of an animal representative of the local fauna: armadillo, capybara, rhea and puma.
The $1 and $2 coins were minted at the Spanish Mint and the $5 and $10 coins at the Royal Mint in England.
In total, 20 million $1 coins, 20 million units of $2 coins, 10 million units of $5 coins and 20 million units of $10 coins were minted.
One uruguayan peso coin
The one peso coin is dedicated to the mulita (armadillo). The equivalent value in euros of this Uruguayan peso coin is, as of July 22, 2022, 2 euro cents (€0.02).
Two uruguayan pesos coin
The capybara is the protagonist of the $2 coin (two Uruguayan pesos). The equivalent value in euros of this 2 Uruguayan peso coin is, as of July 22, 2022, 4 euro cents (€0.04).
Five uruguayan pesos coin
The rhea appears on the five-peso $5 coin. The equivalent value in euros of this 5 Uruguayan peso coin is 10 euro cents (€0.10) as of July 22, 2022.
All of these coins are made from electroplated steel.
Ten uruguayan pesos coin
For its part, the highest value Uruguayan peso coin is the $10 coin and it is bimetallic: the central golden disc is made of cupro-nickel and the silver outer ring is made of steel. The reverse shows the figure of an American cougar (Puma concolor), a feline native to Uruguay.
The equivalent value in euros of this Uruguayan peso coin is, as of July 22, 2022, 20 euro cents (€0.20).
Uruguayan pesos banknotes
The current series of Chilean pesos dates from 2015.
Their denominations in circulation are as follows:
On the obverse of these banknotes, prominent figures from the history of Uruguay are represented and on the reverse, images related to the natural and cultural heritage of the country.
Unlike other series of banknotes from other countries, there is not a single color assigned to each value, but rather they all have their own color combination.
Twenty Uruguayan pesos banknote $20
The twenty Uruguayan peso banknote is green with purple and gold details. On its obverse appears the effigy of the Uruguayan writer, journalist, teacher and diplomat, Juan Zorrilla de San Martín (1855-1933).
The reverse is decorated with an allegory of La Leyenda Patria, his famous and extensive heroic poem, which praises the heroic deeds of Los Treinta y Tres Orientales and which he composed in a week, making him the national poet par excellence.
The approximate exchange value in Portugal of this 20-peso banknote, in March 2023, is about 39 euro cents (€0.39).
Fifty Uruguayan pesos banknote $50
Predominantly red in color, although with green and purple elements, the fifty Uruguayan peso banknote has a current exchange value (March 2023) in Portugal of about 1 euro.
The figure on the obverse corresponds to the Uruguayan journalist, writer and politician of the Colorado party, José Pedro Varela (1845-1879), and its reverse to the monument erected in his honor, located in Montevideo.
There is also a new version of the note.
One hundred Uruguayan pesos banknote $100
The one hundred Uruguayan peso banknote dedicates its obverse to the Uruguayan musician and composer, Eduardo Fabini (1882-1950).
The main color is purple, finished off with green and orange details. The approximate value of this banknote at the exchange rate in Portugal, March 2023, is about 1.95 euros.
Two hundred Uruguayan pesos banknote $200
For the $200 banknote, the BCU chose a chromatic combination of brown, purple and pink. On the obverse appears the effigy of the famous Uruguayan painter, lawyer and politician, Pedro Figari (1861-1938).
The approximate value of this 200 Uruguayan peso banknote at the exchange rate in Portugal, March 2023, is about 3.89 euros.
Five hundred Uruguayan pesos banknote $500
This 500 Uruguayan peso banknote is light green, yellow and orange. It presents on its obverse the figure of the Uruguayan jurist and politician, Alfredo Vásquez Acevedo (1844-1923). The motif on the reverse is the facade of the University of the Republic.
The approximate value of this banknote at the exchange rate in Portugal, March 2023, is about 9.73 euros.
One thousand Uruguayan pesos banknote $1000
The Uruguayan poet Juana de Ibarbourou (1892-1979), known as “Juana de América”, stars on the obverse of the one thousand Uruguayan peso banknote.
At the same time, on the back of it there are allusions to some of her most famous works (The Diamond Tongues (1919) and Wild Root (1922) in verse or The Fresh Pitcher (1920) in prose). The color combination of this 1000 peso banknote is green, yellow and brown.
The approximate exchange value in Portugal, March 2023, of the 1000 peso note is about 19.46 euros.
Two thousand Uruguayan pesos banknote $2000
It is the highest value banknote issued by the Central Bank of Uruguay, with an approximate value at the current exchange rate of about 50 euros. It is grey, ocher and purple in color and features on its obverse the profile figure of Dámaso Antonio Larrañaga, one of the founders of the National Library, who appears on the reverse.
The approximate exchange value in Portugal, March 2023, of the 2000 peso note is about 38.92 euros.
Euro to Uruguayan peso currency exchange
The exchange rate of the euro against the Uruguayan peso is subject to constant fluctuations. If you search Google for “euro-Uruguayan peso exchange rate” you will find dozens of websites like Oanda (called “currency converters”) that offer a “rate” of the day. Or you will see this chart by Google:
The exchange rate for the last five years has fluctuated between 34 UYU and 54.39 UYU per euro, but we must bear in mind that this graph represents the value of the Uruguayan peso “currency” against the euro, and not that of the currency. real, which is lower.
In fact, at currency suppliers in Portugal you can buy Uruguayan pesos at an exchange rate of around 30 UYU at the airport and 38 UYU at competitive currency suppliers that collaborate with Cambiator, even though the currency is around 41 UYU for each euro. Nothing to do with the currency exchange euro to Uruguayan peso.
So, when you see these values in Google and other currency converters with your mobile, you should keep in mind the following:
- This is an unofficial rate, and therefore not reliable. That is, if you click on the “Disclaimer” link, you get this warning from Google Finance:
“Google cannot guarantee the accuracy of the exchange rates displayed. Please confirm the current rates before making a transaction that may be affected by changes in exchange rates.”
- These rates that you see are usually wholesale rates of the Uruguayan peso currency against the euro currency (currency and travel money are not the same).
- This rate can only be obtained by banks among themselves, that is, it is impossible to obtain it as an individual.
Where to exchange Uruguayan pesos in Portugal
If you need Uruguayan pesos in banknotes you will have to go through the banknote retail market (currency suppliers). This market means that the Uruguayan pesos have had to be “transported” by someone for you to enjoy them (or bought from travelers from Uruguay passing through Portugal previously).
In other words, moving banknotes from one place to another has logistical costs that will make its sale rate more expensive (the exchange rate that whoever sells it will apply to you).
The Uruguayan peso is not a very abundant currency/currency in Portugal. As a result of its scarcity, its rate is more expensive in Portugal than in Uruguay.
If you decide to buy Uruguayan pesos in Portugal, it is good to anticipate the purchase and order them online to get a better rate. We do not advise you to buy them at the airport. In fact, none of the big Portuguese banks sell it.
If you opt for a currency supplier, keep in mind that in Portugal you have “expensive” currency suppliers because they are in airports (Unicâmbio) and train stations and quite competitive currency suppliers with full guarantees such as the 4 that collaborate with Cambiator.
The two places to exchange Uruguayan pesos in Portugal are the high street currency suppliers and the currency suppliers at the airport.
Of these, the least recommended place to buy is the airport and any business, such as hotels or currency suppliers, that charges you a commission in addition to an “exchange margin” (difference between the rate for which you paid the currency and the rate for the one who sells it to you).
So first, choose a place where the typical “no commission” is advertised and then compare exchange rates. Then choose the most comfortable option for you. Cambiator helps you buy and sell Uruguayan pesos at no cost to you.
Euro-Uruguayan peso exchange rate today
To find out the Euro to Uruguayan peso exchange rate, the best thing you can do is use our currency comparator.
- Exchange euro to Uruguayan pesos (EUR-UYU)
- Exchange Uruguayan peso to euros (UYU-EUR)