The euro is one of the most demanded currencies in Honduras. (Infobae)
The euro was quoted at closing at 26.90 lempiras on average, so it represented a change of 1.89% compared to the price of the previous day, when it closed with 26.40 lempiras on average.
If we consider the data of the last week, the euro marks an increase of 0.23%, therefore in the last year it still maintains a rise of 5.68%.
In relation to previous days, it ended the streak of market prices of the last two sessions. In reference to the volatility of the last week, it was clearly lower than that accumulated in the last year, so its price has been showing fewer changes than normal lately.
The lempira is the currency for legal use in Honduras since 1931, it uses the abbreviation HNL and is divided into 100 cents; Furthermore, production is regulated by the Central Bank.
Before 1930 the official currency was the Honduran peso and it had been founded by the private banking entity Banco Atlántida. It was not until 1932 when Congress finally gave the green light to the creation of the currency, which remained in the hands of the Central Bank (after its founding in 1950).
At that time the exchange rate was two lempiras to one US dollar, but in 2005 the exchange rate depreciated to 18.04 HNL per dollar (22.16 HNL per euro).
The name of the coin comes in honor of the chief Lempira of the Lenca people, an indigenous leader who defended his territory after the Spanish invasion, it also appears on bills and a couple of coins. Currently, coins of 5, 10, 20 and 50 cents are in circulation, as well as bills of 1, 2, 5, 10, 20, 50, 100 and 500 lempiras.
In 2013, the Central Bank of Honduras approved the creation of 315 million banknotes that included the Braille system and special bars for people with visual disabilities, in addition to the possible creation of inorganic banknotes.
In 2018 and 2019, the Gross Domestic Product (GDP) managed to grow 3.7% and 2.7% respectively, but after the arrival of the coronavirus pandemic and the impact of category four hurricanes Eta and Iota, the economy it had a sharp drop of 9%, while income and jobs also fell.
In the last two years, the Honduran economy has shown signs of improvement, while there was also a government change at the beginning of 2022 that has led the Economic Commission for Latin America and the Caribbean (Cepal) to project growth of up to 3.3% for this 2023.