Currency of Uruguay Currency of Uruguay This is an outline of Uruguay's monetary history. For the present currency of Uruguay, see Uruguayan peso. Uruguay's currency was initially that common to all of Spanish America. During the struggle over this region, initially between Spain and Portugal, then between Argentina and Brazil, the coinage of both contestants circulated. When the area was annexed to Brazil in 1821 as Provincia Cisplatina, the Portuguese (Brazilian) administration put notes of Banco do Brazil into circulation. This was the first paper money to circulate in Uruguay. Then, in 1826–1828, Argentine troops fighting against Brazil were paid in one-peso notes
History of Argentina in reference both to the "Revolución Argentina", the Brazilian military regime (1964–85), Augusto Pinochet's regime (starting in 1973) and Juan María Bordaberry's regime in Uruguay. Onganía's Minister of Economy, Adalbert Krieger Vasena, decreed a wage freeze and a 40% devaluation of the currency, which strongly affected the state of the Argentine economy, in particular the agricultural sector, favoring foreign capital. Vasena suspended collective labour conventions, reformed the hydrocarbon law which had established a partial monopoly of the "Yacimientos Petrolíferos Fiscales" (YPF) state enterprise, as well as passing a law facilitating expulsions in case of failure to pay rent. Finally, the