Un Lempiras--Banknote of Honduras

Item Number: 230
Time Left: CLOSED
Value: Priceless
Online Close: Oct 31, 2018 10:00 PM CDT
Bid History: 0 bids
Description
Honduras: Lempira, an organization formed in February 1994 to defend the rights of indigenous people in the department of Intibuca, including its leaders, activities and treatment by the authorities.
In regards to money......
In 1994, in an attempt to stabilize the currency, the Central Bank established a public U.S. dollar auction system. In this system the Central Bank sold American dollars to domestic commercial banks at a slightly elevated exchange rate. This allowed the Central Bank to make money on the exchange, and by pulling lempiras out of the system (taking them from commercial banks in exchange for dollars) it lowered the supply of domestic currency, thereby raising its price. By the end of 1995, the lempira's decline had begun to slow, improving the performance of the external sector and boosting investor confidence. By 1999 the lempira had steadied at L14.5:US$1, representing a 3.3 percent appreciation against the U.S. dollar in real terms for the year.
Item pictured is exact item up for auction
Special Instructions
Donated by Mike Basoco
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