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
Currency a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in the southeast. It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the