823) Central Bank of Uruguay ("Banco Centrale del Uruguay"): 50th Anniversary (Golden Jubilee) - 1967-2017 - celebrated with the issue of a 50 Peso Commemorative Banknote on 14.09.2018:
Uruguay is located in the continent of South America and covers 175,015 sq. kilometres of land and 1,200 sq. kilometres of water, making it the 91st largest country in the world with a total area of 176,215 sq. kilometres.
In 1828, Uruguay became an independent state after gaining Independence from Spain. The population of Uruguay is around 3,350,000. Uruguay shares its borders with Argentina and Brazil.
The present currency of Uruguay is called the "Peso Uruguayo" or "Peso en Unidades Indexadas", which was adopted in 1993. The currency is sub-divided into 100 Centesimos. There are no Centesimo coins currently in circulation.
Uruguay achieved monetary stability in 1896, based on the Gold Standard, which was followed by an unsettled period after World War I and economic difficulties persisted after World War II and became aggravated after 1964.
On 01.07.1975, the Peso was replaced by the Nuevo Peso at an exchange rate of 1 Nuevo Peso to 1,000 old Pesos. The Nuevo Peso was also sub-divided into 100 Centesimos.
In 1993, after rampant inflation, the Peso Uruguayo replaced the Nuevo Peso at an exchange rate of 1 Peso Uruguayo to 1 Nuevo Peso.
In Uruguay there is a popular saying going around, what with the constant devaluation of their currency. Uruguayans refer to periods of real appreciation of the currency as "atraso cambiario", literally meaning that the "exchange rate is running late".
50th Anniversary (Golden Jubilee) of the Central Bank of Uruguay (1967-2017):
Uruguay is located in the continent of South America and covers 175,015 sq. kilometres of land and 1,200 sq. kilometres of water, making it the 91st largest country in the world with a total area of 176,215 sq. kilometres.
In 1828, Uruguay became an independent state after gaining Independence from Spain. The population of Uruguay is around 3,350,000. Uruguay shares its borders with Argentina and Brazil.
The present currency of Uruguay is called the "Peso Uruguayo" or "Peso en Unidades Indexadas", which was adopted in 1993. The currency is sub-divided into 100 Centesimos. There are no Centesimo coins currently in circulation.
Uruguay achieved monetary stability in 1896, based on the Gold Standard, which was followed by an unsettled period after World War I and economic difficulties persisted after World War II and became aggravated after 1964.
On 01.07.1975, the Peso was replaced by the Nuevo Peso at an exchange rate of 1 Nuevo Peso to 1,000 old Pesos. The Nuevo Peso was also sub-divided into 100 Centesimos.
In 1993, after rampant inflation, the Peso Uruguayo replaced the Nuevo Peso at an exchange rate of 1 Peso Uruguayo to 1 Nuevo Peso.
In Uruguay there is a popular saying going around, what with the constant devaluation of their currency. Uruguayans refer to periods of real appreciation of the currency as "atraso cambiario", literally meaning that the "exchange rate is running late".
50th Anniversary (Golden Jubilee) of the Central Bank of Uruguay (1967-2017):
The Central Bank of Uruguay ("Banco Centrale del Uruguay") released a new commemorative polymer Banknote in the denomination of 50 Peso on 14.09.2018 to celebrate the 50th Anniversary of the establishment of the Bank in 1967.
The Front of the 50 Peso Central Bank of Uruguay 50th Anniversary Commemorative polymer Banknote seen against a background image of the Back of the Banknote
The Front of the 50 Peso polymer Banknote features the Uruguayan Coat of Arms, a Map of Uruguay and a prominent 50th Anniversary logo of the Central Bank.
The Back of the 50 Peso Polymer Banknote features a representation of a 1967 modern art in wood by Walter Deliott titled - "Mural: Construccion Portuaria". The original artwork is showcased in the Central Bank itself. The artwork symbolises the national, social and economic aspects of Uruguay.
10 million pieces of this Banknote were printed by the Central Bank.
The last major redesign of his denomination (50 Peso) occurred in 1994.
10 million pieces of this Banknote were printed by the Central Bank.
The last major redesign of his denomination (50 Peso) occurred in 1994.
"Mural: Construccion Portuaria": by Uruguayan artist - Walter Deliott:
The "Mural - Construccion Portuaria"
This mural took almost two months to complete and integrates the cultural heritage of the Central Bank of Uruguay.
This mural was created out of a wood just under a metre of base. The original work was "reunited with other works". The work has a basis of free construction, in forms and even in colours, free in the unorthodox and pure sense of style. It is labelled as "a desire to build a work with its own anatomy".
The installation of this work is based on the conviction that the economic and cultural bases of society, together feed human development. All citizens were invited to work together, enjoy it and keep in mind that it belongs to the cultural and artistic heritage of all Uruguayans.
An image of the mural installed in the Bank building on inauguration day
The mural is installed in the most public area of the Bank building, the work is accessible to citizens for contemplation, understanding and appreciation of its vast content.
The colour of the Banknote is a blue-gold scheme which matches that of Uruguay's national flag.
This mural took almost two months to complete and integrates the cultural heritage of the Central Bank of Uruguay.
This mural was created out of a wood just under a metre of base. The original work was "reunited with other works". The work has a basis of free construction, in forms and even in colours, free in the unorthodox and pure sense of style. It is labelled as "a desire to build a work with its own anatomy".
The installation of this work is based on the conviction that the economic and cultural bases of society, together feed human development. All citizens were invited to work together, enjoy it and keep in mind that it belongs to the cultural and artistic heritage of all Uruguayans.
The mural is installed in the most public area of the Bank building, the work is accessible to citizens for contemplation, understanding and appreciation of its vast content.
The colour of the Banknote is a blue-gold scheme which matches that of Uruguay's national flag.
The present Flag of Uruguay was officially adopted on 11.07.1830. There are three official flags of Uruguay, of which this is the main National Flag.
The "Sun of May" has been used as a national symbol since the 19th Century. The blue and white colours are modelled after the flag of Argentina, and the nine stripes represent the nine departments within the country.
The Coat of Arms of Uruguay consists of an oval, divided into four quadrants and crowned by a rising golden sun, the "Sun of May", symbolising the rise and prosperity of Uruguay. The oval is surrounded by a laurel branch on the left and an olive branch on the right, symbolising honour and peace.
In the upper left quadrant there is a Scale - representing Equality. The upper right quadrant contains the "Cerro de Montevideo" (Montevideo Hill) with its fortress on the summit - representing Strength. In the lower left quadrant, there is a galloping Horse - representing Liberty. The lower right Quadrant shows an Ox - representing Abundance.
Presently circulating Uruguayan Banknotes:
In 1995-1996, Banknotes of 5, 10, 20, 50, 100, 200, 500 and 1,000 Pesos were in circulation.
Of these, the 5 and 10 Pesos Banknotes have been withdrawn from circulation and replaced with coins of the same denomination, while a 2,000 Peso Banknote has been released into circulation.
On the Front of the 20 Pesos Uruguayos Banknotes is depicted Juan Zorilla de San Martin and on the Back is an Allegory "The Fatherland Legend". Its pre-dominant colour is dark green and violet.
On the Front of the 50 Pesos Uruguayos Banknotes is depicted Jose Pedro Varela and on the Back is the Varela monument in Montevideo. Its pre-dominant colour is black, red and violet.
On the Front of the 100 Pesos Uruguayos Banknote is depicted Eduardo Fabini and on the Back is depicted the God Pan. Its pre-dominant colour is purple and dark brown.
On the Front of the 200 Pesos Uruguayos Banknote is depicted Pedro Figari, and on the Back is depicted "Baile Antiguo" (an old dance). The pre-dominant colour is dark brown and violet.
On the Front of the 500 Pesos Uruguayos Banknote is depicted Alfredo Vazquez Acevedo and on the Back is the University of the Republic in Montevideo. The pre-dominant colour is blue-gray, violet and pale red.
On the Front of the 1,000 Pesos Uruguayos Banknote is depicted Juana de Ibarbourou and on the Back is the Ibarbourou Square and books. The pre-dominant colour is brown and olive-green.
On the Front of the 2,000 Pesos Uruguayos Banknote is depicted Damaso Antonio Larranaga and on the Back is the National Library 28.05.1816. Its pre-dominant colour is gray, purple and blue.
On all the Banknotes, the watermark is of Jose Gervasio Artigas.
In addition, the Central Bank also has plans to print polymer Banknotes in the higher-circulating lower denominations to increase their durability.
The new 20 Peso Banknote which is slated for the next release, will be smaller in size than the 50 Peso Banknote to help the visually impaired users to differentiate between denominations.
Links to some other interesting posts from South American countries and Mexico:
In 1995-1996, Banknotes of 5, 10, 20, 50, 100, 200, 500 and 1,000 Pesos were in circulation.
Of these, the 5 and 10 Pesos Banknotes have been withdrawn from circulation and replaced with coins of the same denomination, while a 2,000 Peso Banknote has been released into circulation.
On the Front of the 20 Pesos Uruguayos Banknotes is depicted Juan Zorilla de San Martin and on the Back is an Allegory "The Fatherland Legend". Its pre-dominant colour is dark green and violet.
On the Front of the 50 Pesos Uruguayos Banknotes is depicted Jose Pedro Varela and on the Back is the Varela monument in Montevideo. Its pre-dominant colour is black, red and violet.
On the Front of the 100 Pesos Uruguayos Banknote is depicted Eduardo Fabini and on the Back is depicted the God Pan. Its pre-dominant colour is purple and dark brown.
On the Front of the 200 Pesos Uruguayos Banknote is depicted Pedro Figari, and on the Back is depicted "Baile Antiguo" (an old dance). The pre-dominant colour is dark brown and violet.
On the Front of the 500 Pesos Uruguayos Banknote is depicted Alfredo Vazquez Acevedo and on the Back is the University of the Republic in Montevideo. The pre-dominant colour is blue-gray, violet and pale red.
On the Front of the 1,000 Pesos Uruguayos Banknote is depicted Juana de Ibarbourou and on the Back is the Ibarbourou Square and books. The pre-dominant colour is brown and olive-green.
On the Front of the 2,000 Pesos Uruguayos Banknote is depicted Damaso Antonio Larranaga and on the Back is the National Library 28.05.1816. Its pre-dominant colour is gray, purple and blue.
On all the Banknotes, the watermark is of Jose Gervasio Artigas.
In addition, the Central Bank also has plans to print polymer Banknotes in the higher-circulating lower denominations to increase their durability.
The new 20 Peso Banknote which is slated for the next release, will be smaller in size than the 50 Peso Banknote to help the visually impaired users to differentiate between denominations.
Links to some other interesting posts from South American countries and Mexico:
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