Honduras: Lempira variations do not affect savings

Honduras continue saving in Lempiras in spite of the fluctuation of the currency versus the US dollar.

Wednesday, July 30, 2008

The Central Bank of Honduras reported that the banking system keeps $6.180 million in private sector deposits, with 30% of those in Lempiras, and the remaining 30% in foreign currency (US dollars, euros, swiss francs, pounds and yens). The data refers to July 3, 2008.

More on this topic

Devaluation of Lempira Continues

November 2012

Honduras' industry is asking government to contain spending, in order to curb the depreciation of the currency and rising interest rates.

In late July 2011, the Central Bank of Honduras (BCH in Spanish) reactivated the exchange rate band system, a scheme under which the dollar fluctuates between two bands, established by the entity that has the power to buy dollars if the exchange change goes towards the lower band, and sell if it is located in the upper limit, in order to increase supply and push the exchange rate lower.

Legal Tender in Honduras: Canadian Dollar and Yuan

April 2012

The Central Bank of Honduras said the Canadian dollar and the yuan, have been added to the list of currencies that can be deposited in foreign currency accounts.

The business sector will directly benefit from by this measure, which facilitates trade with the countries issuing those currencies.

The Lempira Depreciates

October 2011

Next week the price of one dollar will exceed 19 lempiras.

The devaluation that the Honduran currency has suffered against the dollar for several days, has the population concerned, because it increases the cost of living, reducing purchasing power in a country highly dependent on imports.

Nicaragua: Savings in Banking System Grow

June 2011

Economic recovery and resources from the Venezuelan Cooperation explain the rise in deposits.

The deposits in Nicaraguan national banks, especially those denominated in foreign currency, have shown significant increases in recent months.

Economists say the increase is due in part to improved economic conditions prevailing in the country, which have increased Nicaraguans savings and their confidence in the banking system.

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