The Uruguayan financial system, controlled by the Central Bank of Uruguay (BCU), is composed of the República Oriental del Uruguay Bank (BROU), the Hipotecario Bank (BHU), private banking houses, financial institutions, the Montevideo Stock Exchange and other small-scale investment firms.

The Central Bank of Uruguay, in addition to acting as a regulator of the system and as the monetary authority, oversees the activities of financial institutions, implements foreign exchange policies and acts as a financial state entity.

The BROU is a commercial bank where trade operations statements with foreign countries are made. Along with the Central Bank, the BROU operates on the foreign exchange and credit market.

The BHU provides mortgages for housing and construction.

The ongoing financial liberalization, the free-trade growth in the Uruguayan economy, the growing interest stimulated by the market between non-resident investors and international financial institutions, stability in financial relations with international banks and multilateral financial organizations, have created an atmosphere that leads to diversification of financial services offered by the banks and the financial institutions in the country.

Uruguay has an efficient financial system, counting among its members with many first line banks, both European and American. This has turned our country into an important market in the region.

• The deposits are dollarized, despite the fact that profitability for deposits in local currency frequently exceeds that of the deposits in foreign currency.

• The U.S. dollar is the main foreign currency. However, deposits into other currencies are allowed.

• The credits and loans are essentially granted in foreign currency. 90% is provided to residents.

• The maintenance of a strict banking secrecy is expressly guaranteed by law.