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25 October, 2014

Uruguay - 1989 to 1992 Set of 9 Notes

Posted here is a full set of 9 notes issued between 1989 to 1992 from 1,000 to 500,000 New Pesos. This set was issued in a presentation folder which also included 3 unissued notes - 1,000, 5,000 and 10,000 Neuvos Pesos. These 3 notes are all printed with the words "NO EMITIDO" which means unissued in Spanish. These are hyper inflation notes and it was later replaced in 1994 following the country's currency reform by removing 3 zeros from the currency value ie 1,000 Neuvos Pesos = 1 Peso Uruguayo. Almost all independence nations in the South America had gone through an economy and currency crises at least once during the 80s and 90s due to hyper inflation and forced to adopt a major currency reform to fix the economy. The 500,000 Neuvos Pesos was the largest currency ever issued in the history of Uruguay.

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