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Honduras

Honduras is situated in Central America, bordered by Guatemala, Nicaragua, El Salvador, the Gulf of Honduras, and the Pacific Ocean. The second poorest country in the region, Honduras suffers from high underemployment and uneven income distribution.  

Fifty percent of the country’s economic activity is linked to the US, including its exports to the US that accounts for 30% of GDP and remittances that contributes 20% to the country’s revenue. From banana and coffee exporting, Honduras has recently explored apparel and automobile wire harnessing. 

In 2006, the CAFTA or the US-Central America Free Trade Agreement commenced. While the trade agreement has helped strengthen foreign investment, political and physical instability, as well as crime and corruption, may put off potential investors. In 2010, the country experienced a downturn in its economy and became unable to improve the way of life of 60% of its population in poverty. The Lobo regime inherited off-budget debts accrued by previous administrations. Lobo’s government is committed to enhancing tax income, slashing off its spending, and attracting foreign investment.

Since 1931, Honduras has been using the Honduras lempira as its national currency. The Lempira was named after Lencan chieftain, Lempira, who led the defense against the attempts of Francisco Montejo to rule over the Honduras province. 

Since July 1, 1950, the Central Bank of Honduras has been responsible for the production of the Honduras lempira banknotes. On its first day of service, the bank had little time to make printing plates. Because of this, they used the Banco de Honduras plates for producing 5-lempira banknotes.

Banknotes released between 1976 and 2010 bear portraits of well-known personalities in the history of the country. Recent issues of the Honduras lempira notes are equipped with features such as embossed Braille dots as well as vertical bars in high-relief to help the sight-impaired distinguish between denominations.

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