Closing rate of the euro in Honduras this March 1 from EUR to HNL

He euro was traded at the close of 26.18 lempira on averagewhich implied a variation of 2.49% compared to the previous day’s data, when it ended with an average of 25.54 lempiras.

Considering last week, the euro recorded an increase of 1.82% even if, on the contrary, from one year to another, there is always a decrease in the 0.34%.

In terms of today’s changes from previous days, it ended two negative trending sessions. Regarding the volatility of the last days, it is higher than the data obtained for the last year (15.85%), which indicates that it presents a more unstable behavior.

The lempira has been the legal currency in Honduras since 1931, uses the abbreviation HNL and is divided into 100 cents; Moreover, its circulation is regulated by the Central Bank.

Before 1930, the official currency was the Honduran peso and it was founded by the private banking entity Banco Atlántida. It was in 1932 that Congress finally approved 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 for one US dollar, but in 2005, the exchange rate depreciated up to 18.04 HNL per dollar (22.16 HNL per euro).

As for its name, the lempira is named in honor of the Lempira chief of the Lenca people, an indigenous leader who defended his territory after the Spanish invasion, it also appears on banknotes and some coins. Currently, coins of 5, 10, 20 and 50 cents are in circulation, as well as banknotes of 1, 2, 5, 10, 20, 50, 100 and 500 lempiras.

In 2013, the Central Bank of Honduras approved the printing of 315 million banknotes with the Braille system and special bars for the visually impaired, in addition to the possible creation of inorganic banknotes.

During the years 2018 and 2019, the gross domestic product (GDP) managed to grow by 3.7% and 2.7% respectively, but after the arrival of the coronavirus pandemic and the impact of category four hurricanes Eta and Iotathe economy fell 9%, while incomes and jobs also fell.

in the past two years The Honduran economy has shown signs of improvementwhile there was also a change of government at the beginning of 2022 which caused the Economic Commission for Latin America and the Caribbean (ECLAC) to predict growth of up to 3.3% for this 2023.