200 Pesos Uruguayos

Uruguay has a long habit of printing its banknotes abroad, and this series was produced by Chile's Casa de Moneda — an arrangement that reflects both the regional trust in that institution and the relatively modest volumes involved for a country of Uruguay's size. The Casa de Moneda de Chile has handled foreign commissions for several Latin American nations, and the quality of the cotton substrate here is consistent with its better export work.

The security specification is lean by contemporary standards — watermark and thread only, with none of the optically variable elements that had become routine on major-currency issues by the mid-2010s. That's a telling detail about where the 200-peso denomination sits in actual daily use.