50 Nuevos Pesos

Uruguay's transition from pesos to nuevos pesos in 1975 lopped off three zeros from the currency — a direct response to inflation that had eroded the old peso to near worthlessness over the preceding decade. This 50 Nuevos Pesos note falls within the series commissioned to give the reformed currency a stable, professionally produced look, with De La Rue providing the printing continuity across multiple denominations throughout the late 1970s and into the 1980s.

The watermark is the sole security measure — modest even by the standards of the period, though not unusual for mid-range denominations in South American issues of the era. Uruguay would eventually abandon the nuevo peso itself in 1993, again shedding three zeros.