Uruguay uses the peso uruguayo, denoted UYU and symbolized $U. The Central Bank of Uruguay issues banknotes in denominations of 20, 50, 100, 200, 500, 1000, and 2000 pesos, with coins in 1, 2, 5, and 10 pesos plus 50 centésimos. Exchange rates fluctuate but have ranged between 38 and 45 pesos per US dollar during 2023-2024. The US dollar circulates widely in parallel with the peso, particularly for real estate transactions, vehicle purchases, and tourist services in areas like Punta del Este and Colonia del Sacramento. Many prices in these locations appear listed in dollars, and businesses accept dollar payment directly. This dual-currency practice reflects Uruguay's historical economic volatility and repeated devaluations, which embedded dollar preference into commercial culture during the 1970s through early 2000s.
ATMs operate extensively in Montevideo, Punta del Este, Maldonado, Salto, Paysandú, Rivera, Colonia del Sacramento, and other departmental capitals. Machines dispense both pesos and US dollars depending on the network and institution. RedBrou, the state bank Banco República's ATM network, has the widest geographic distribution with over 400 machines nationwide. Bancomat and RedPagos networks also maintain significant coverage. Daily withdrawal limits typically range from 10,000 to 40,000 pesos or equivalent dollar amounts, varying by bank and card issuer. International cards on Visa, Mastercard, Cirrus, and Plus networks function at most ATMs. Withdrawal fees from Uruguayan banks for foreign cards generally fall between 200 and 400 pesos per transaction, with your home bank potentially adding additional fees.
Banking hours run Monday through Friday from 1300 to 1700 in most locations, an afternoon-only schedule uncommon elsewhere but standard across Uruguay's financial sector. Banco República, Banco BROU, Itaú Uruguay, Santander Uruguay, Scotiabank Uruguay, and BBVA Uruguay represent the largest retail banking institutions. Currency exchange houses, called casas de cambio, maintain more flexible hours, typically 0900 to 1800 on weekdays and 0900 to 1300 on Saturdays. Cambio Gales, Cambio Nelson, Varlix, and Indumex operate exchange offices in Montevideo's Ciudad Vieja and major tourist zones. Exchange rates at these establishments generally beat airport rates by 2-4 percent and match or slightly exceed bank rates. The Banco República maintains a currency exchange desk at Carrasco International Airport operating during all international flight arrivals.
Credit and debit cards see wide acceptance in urban areas and tourist destinations. Visa and Mastercard work at most establishments accepting cards. American Express has substantially more limited acceptance, primarily at higher-end hotels and some restaurants in Montevideo and Punta del Este. Discover and other networks have minimal presence. Merchants in Montevideo, Punta del Este, Maldonado, and Colonia del Sacramento accept cards for purchases as small as 200-300 pesos. Rural areas, small towns like La Paloma, Carmelo, Trinidad, and Melo, and family-operated establishments default to cash. Gas stations operated by Ancap, the state petroleum company, accept cards universally. Supermarket chains including Tienda Inglesa, Disco, Devoto, and Ta-Ta accept all major cards. The government incentivized card adoption through Law 19.210, passed in 2014, which mandated lower value-added tax rates for card transactions compared to cash, creating a differential of 3 percentage points that made card payment cheaper for consumers.
Uruguay implemented contactless payment infrastructure broadly beginning in 2017. Terminals with NFC capability exist in most chain establishments, gas stations, supermarkets, and many independent businesses in cities. You can use contactless cards, smartphones with Apple Pay or Google Pay, and locally issued contactless cards from Uruguayan banks. The adoption rate in Montevideo approaches 70 percent of card-accepting merchants based on 2023 data from the central bank. Outside departmental capitals, contactless availability drops substantially, with traditional chip-and-PIN remaining standard.
Mobile payment platforms gained significant traction following the 2020 pandemic. Prex, Midinero, and Oca Blue represent the three dominant mobile wallet applications in Uruguay. Prex, launched in 2015, operates as a prepaid account system linked to a physical card and mobile app, reporting over 1.2 million users as of 2024 in a country of 3.4 million people. The system allows peer-to-peer transfers, bill payments, and point-of-sale purchases via QR code at participating merchants. Midinero, operated by telecommunications provider Movistar, integrates with mobile phone accounts. Oca Blue, from the Oca credit card network, functions similarly. These platforms work independently of traditional banking, allowing users without bank accounts to participate in digital payments.
QR code payment gained official government backing through the Código QR Interoperable initiative launched in 2021 by the central bank. This standardized system allows any bank or payment provider to generate and read the same QR codes, eliminating the fragmentation that plagued earlier proprietary systems. Merchants display a single QR code that customers scan with any participating bank app or mobile wallet. Adoption accelerated in 2022-2023, particularly among small vendors at Montevideo's Mercado del Puerto, street markets, and independent restaurants. The system charges merchants substantially lower transaction fees than traditional card processing, typically 1-1.5 percent compared to 2.5-4 percent for cards, incentivizing acceptance.
Uruguay eliminated value-added tax on digital payment transactions for amounts under 4,000 pesos in 2017, extended this threshold to 10,000 pesos in 2019, and removed it entirely in 2023. These measures, combined with mandatory card acceptance for certain business categories including restaurants, hotels, and rental vehicles, pushed Uruguay's electronic payment penetration to among the highest in Latin America. The central bank reported that 73 percent of consumer transactions by value occurred electronically in 2023, up from 38 percent in 2015.
Uruguay deployed fiber optic internet to approximately 85 percent of households by 2024, the highest rate in Latin America according to the International Telecommunication Union. Antel, the state telecommunications monopoly, owns and operates this network. The government mandated universal service obligations requiring Antel to extend connectivity to rural areas regardless of profitability, resulting in fiber reaching small towns throughout Rocha, Tacuarembó, Rivera, and Artigas departments that would lack such infrastructure under purely commercial deployment.
Residential internet packages through Antel offer speeds from 50 Mbps to 1000 Mbps symmetrical, with the gigabit tier costing approximately 1,500 pesos monthly as of 2024. No data caps apply to any residential plans. Installation fees run around 1,000 pesos. Antel requires a Uruguayan identification document for contract signing, making service difficult to obtain for short-term visitors. Some property rental agencies and serviced apartment providers arrange internet accounts on behalf of foreign renters through corporate contracts.
Public WiFi exists extensively across Montevideo and major cities through the government's Plan Ibirapitá and subsequent expansions. Free wireless internet functions in most public plazas, along Montevideo's Rambla waterfront, in departmental government buildings, and at health centers. The network requires no registration or password in most locations. Speed and reliability vary considerably, with Plaza Independencia, Plaza Matriz, and Punta Carretas areas in Montevideo providing relatively stable connections, while peripheral neighborhoods experience more intermittent service. Coverage extends to Colonia del Sacramento's historic quarter, the coastal zone of Punta del Este, and central plazas in Salto, Paysandú, Mercedes, and other departmental capitals.
Commercial establishments including cafés, restaurants, shopping centers, and hotels provide WiFi with varying access policies. Most cafés in Montevideo's Ciudad Vieja, Pocitos, Punta Carretas, and Parque Rodó neighborhoods offer free wireless to customers, typically requiring a purchase but no password. Chain coffee shops including Starbucks, Café Martínez, and local chains Escaramuza and Oro del Alba provide open networks. Shopping malls Montevideo Shopping, Punta Carretas Shopping, Portones Shopping, and Tres Cruces Shopping maintain free wireless throughout their premises with automatic connection.