Catalog
50 Pesos Uruguayos
| Issuer | Banco Central del Uruguay |
|---|---|
| Year | 2003 |
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| Printer | François-Charles Oberthur Fiduciaire, France |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse lettering | BANCO CENTRAL DEL URUGUAY PESOS URUGUAYOS CINCUENTA MONEDA NACIONAL MONUMENTO A JOSE PEDRO VARELA FRANÇOIS-CHARLES OBERTHUR FIDUCIAIRE (Translation: Central Bank of Uruguay Pesos Uruguayos Fifty National currency Monument to José Pedro Varela) |
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| Protection type | Watermark, Security thread |
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| Comments |
The 2003 series marked a denominational reset for Uruguay — the peso uruguayo had replaced the nuevo peso in 1993 at a rate of 1,000 to 1, itself a consequence of the inflationary spiral of the 1980s. By 2003, the country was in the grip of a severe banking crisis triggered partly by contagion from Argentina's 2001 collapse, which froze dollar deposits and caused a bank run that wiped out roughly a third of Uruguay's deposit base.
Oberthur's production of this issue is consistent with Uruguay's long reliance on French security printers for its higher-denomination paper.