Paper Money

Uruguay issues first new 50-peso note in decades

A new 50-peso bill that is Uruguay’s first major redesign of the denomination since 1994, was put into circulation by the Central Bank of Uruguay on Sept. 14.

It belatedly commemorates the 50th anniversary of the bank’s founding in 1967 as the successor to the Banco República. 

The new note is made of polymer and has an initial printing of 10 million pieces. The predominantly blue and gold colors reflect the colors of the national flag.

The face of the note (U.S. equivalent of $1.51) shows the national coat of arms and a map of Uruguay on the left and a large anniversary logo of the bank on the right.

On the back is a depiction of a work of modern art in wood called Mural: Construcción Portuaria by Uruguayan artist Walter Deliott. The mural also dates to 1967 and is installed in one of the public areas of the bank. The bank describes the work as alluding to national, social, and economic aspects of Uruguay.

The bank’s president, Mario Bergara, said at the 50 peso note’s introduction that the institution will expand the use of polymer in its higher-circulating lower denominations as part of efforts to increase their durability and lifetime. He also said that when the new 20-peso note is issued it will be smaller is size than the 50-peso note, to allow for better differentiation by people with poor vision.

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