Country in the southeastern region of South America. It borders Argentina to its west and Brazil to its north and east, with the Río de la Plata (River of Silver) to the south and the Atlantic Ocean to the southeast. Uruguay is geographically the second-smallest nation in South America, only larger in size than Suriname. Uruguay is an important global exporter of combed wool, rice, soybeans, frozen beef, malt and milk. Uruguay is ranked first in Latin America in democracy, peace and lack of corruption. Capital (and largest city): Montevideo. Currency: Uruguayan peso (UYU).
Uruguayan peso has been the name of the Uruguayan currency since Uruguay's settlement by Europeans. The present currency, the peso uruguayo was adopted in 1993.
In 1995-1996, banknotes in denominations of, 5, 10, 20, 50, 100, 200, 500 and 1000 pesos uruguayos were introduced, followed by 2000 pesos uruguayos in 2003. 5 and 10 notes have been replaced by coins in 2003