Make Payments in UYU - Uruguayan Peso
Pay in Uruguayan Pesos (UYU)
Mondial Change allows you to make international payments in UYU (Uruguayan Peso) with ease. Manage your Uruguayan Peso beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your UYU operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your customer rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Uruguayan Peso (UYU)
It is currently not possible to receive payments in UYU.
Do you want to hedge your exchange risk on the Uruguayan Peso (UYU)? Check our dedicated page for UYU currency hedging
Mondial Change Answers All Your Questions About Payments in Uruguayan Pesos (UYU)
What is the timeframe for a UYU payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a transfer in Uruguayan Peso to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if UYU payments are credited beyond 2 business days to the beneficiary's account. External events such as processing delays by intermediary banks, public holidays, execution time, or compliance checks can have a significant impact on payment receipt times.
What are the fees for a payment in Uruguayan Peso (UYU)?
The fees applied to transfers in Uruguayan Peso (UYU) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading desk. The rate primarily depends on your annual UYU exchange volume and the number of Uruguayan Peso payments made during the year.
Are there minimum or maximum amounts for payments in Uruguayan Peso (UYU)?
Mondial Change and its partners verify that your Uruguayan Peso flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If restrictions apply to transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Uruguayan Peso (UYU)?
For UYU payments via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• Full address of the beneficiary
• Local account number
• SWIFT code of the beneficiary's bank
Is it possible to modify a payment in Uruguayan Peso (UYU) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Uruguayan Peso (UYU) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
What are the holidays when payments in Uruguayan Peso (UYU) cannot be executed?
January 1st: New Year's Day (Año Nuevo)
Variable date (February/March): Carnival – 1st day
Variable date: Carnival – 2nd day
Variable date: Holy Thursday (Jueves Santo – often a bank holiday)
Variable date: Good Friday (Viernes Santo)
Variable date (April): Landing of the 33 Orientals (Desembarco de los 33 Orientales – often moved)
May 1st: Labor Day (Día del Trabajador)
June 19th: Birthday of José Gervasio Artigas (Natalicio de Artigas – often moved)
July 18th: Constitution Day (Jura de la Constitución)
August 25th: Independence Day (Declaratoria de la Independencia)
Variable date (October): Columbus Day (Día de la Raza – often moved)
November 2nd: Day of the Dead (Día de los Difuntos)
December 25th: Christmas (Navidad)
History of the Uruguayan Peso
The Uruguayan Peso (UYU) has been the official currency of Uruguay since 1993, replacing the old peso following a monetary reform aimed at stabilizing the economy. It is divided into 100 centésimos. The peso is issued by the Central Bank of Uruguay (Banco Central del Uruguay) and used in all domestic transactions. It has experienced several phases of inflation but remains relatively stable today compared to other South American currencies, supported by prudent monetary policy and an economy oriented towards the export of agricultural goods.
Monetary Policy of the Uruguayan Peso
Monetary policy in Uruguay is conducted by the Central Bank of Uruguay, whose main mission is to ensure price stability and the proper functioning of the financial system. Uruguay uses a floating exchange rate regime, allowing some flexibility in the face of external shocks. The central bank operates through instruments such as the policy rate, reserve requirements, and open market operations. The country enjoys good credibility in international markets thanks to its fiscal and monetary discipline.
Characteristics of the Uruguayan Peso
The Uruguayan Peso is recognized for its relative stability in a sometimes volatile regional context. It is not a widely used currency internationally, but it plays a central role in the Uruguayan economy, particularly in agricultural trade. The banknotes in circulation feature modern security elements and depict national personalities and symbols. Uruguay strongly limits the dollarization of its economy, which reinforces confidence in its local currency. Foreign companies operating in the country regularly use the peso for their internal transactions.