Honduras: Lempira Exchange Rate Band Change

The Central Bank of Honduras has reinstated upper and lower limits for foreign exchange auctions, which will be held Monday through Friday.

Monday, July 25, 2011

A statement by Central Bank of Honduras reads:

Faced with a favorable external position BCH has decided to reactivate the exchange rate band.

Increased external demand coupled with better prices of main export products and a greater flow of remittances, have allowed an important accumulation of BCH’s reserve assets, reaching a balance of international reserves in excess of U.S. $3000.0 million, which will finance about four months worth of imports and cover more than one hundred percent of the external public debt.

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