The ouguiya or ougiya is an official currency of Mauritania with currency code MRU and symbol UM. It is subdivided into 5 khoums. The current new ouguiya was introduced by replacing the old ouguiya in 1918. The name ouguiya is an Arabic word which means, ounce.
The first series of Mauritania ouguiyas coins were introduced in 1973 in denominations of 1⁄5 khoums and 1, 2, 5, 10 and 20 ouguiya. The Central Bank of Mauritania issued first series of banknotes in 1973 in denominations of 100, 200, and 1000 ouguiya. The second series were added with same denominations in 1974.
The Mauritania ouguiyas banknote of 500 was added in 1979. A whole new set of banknotes were issued in 2004 with completely new design and shape. The banknote of 5000 added on 8th August 2010 and banknote of 2000 on 1st February 2012.
The Central Bank of Mauritania announced a new series of coins and banknotes on 5th December 2017. The coins were introduced in denominations of 1 khoums, 1/5, 1, 5, 10 and 20 ouguiya. A new series of banknotes was issued in denominations of 50, 100, 200, 500 and 1000 ouguiya.
Recently banknotes of 50, 100, 200, 500, 1000 ouguiya and coins of 1, 2, 5, 10, 20 and 1⁄5 ouguiya are generally circulation in Mauritania economy.