100 Nuevos Pesos

Uruguay's 1989 monetary reform replaced the peso with the nuevo peso at a rate of 1,000 to one — itself a redenomination scheme introduced in 1975 to contain runaway inflation. By 1989, the nuevo peso was already collapsing under the same pressures it was designed to mask, and this 100-unit piece represented a face value that had become nearly meaningless in daily transactions within a few years of issue.

A second redenomination followed in 1993, converting nuevos pesos back to pesos at 1,000 to one again — the same ratio, the same logic, the same result.