Banco Central de Honduras (Honduras)

The Banco Central de Honduras was founded on July 1, 1950, as a result of the nationalization of payment methods and the reorientation of monetary, exchange, and credit policies in the country. It was established through Legislative Decree No. 53 on February 3, 1950. The inauguration ceremony was presided over by President Juan Manuel Gálvez and led by Lawyer Roberto Ramírez. At the time of its establishment, there were only two banks partially covering the financial activities in Tegucigalpa, San Pedro Sula, and La Ceiba. The creation of the Banco Central de Honduras represented a significant advancement in the country's economic development. Additionally, the government had previously approved the Lempira as the official currency, but it had not been implemented as a monetary standard until the establishment of the BCH. The 1950 Law served as the foundation for the Banco Central de Honduras to become a pillar of the Honduran economy. In 1996, the Congress approved a set of reforms to the Law through Decree No. 228-96, aiming to align the institution with the current conditions and demands of the financial market. The recent reforms to the BCH Law focus on strengthening the autonomy and independence of the central monetary authority to fulfill its new role as mandated by society through the Legislative Power.