Many transactions in Honduras are conducted with cash to this day. Congressman Jose Azcona presented a draft decree before the full Congress aimed at creating a one thousand lempira bill to ease making these payments. He also proposed in the same decree, to replace the one, two and five lempira bills with coins.
The law of the Central Bank of Honduras allows this, under Article 27, wherein the National Congress may enact special laws for new denominations of coins and bills. Congress is responsible for monitoring and ensuring the country has sufficient bills and coins available to meet the needs of the transactions that citizens engage in, and that the people of Honduras’ history and collective achievements receive a worthy memorial on that money.
According to the draft decree, the creation of a thousand Lempira bill is a practical necessity. It is proposed that Dr. Ramon Villeda Morales’ image appears on the one thousand lempira note. Dr. Morales was the constitutionally elected president of the Republic from 1957 to 1963. His term was a time of great social and economic development in Honduras. The bill is to include images alluding to the major achievements of his administration, including the Labor Code, Land Reform, and initiation of Social Security.
The other request, for the creation of lower denomination coins rather than paper notes, is due to the need for a more durable form of money. This would mean a longer time of circulation for those amounts, which would ultimately cost the State of Honduras less money. It is proposed that those currencies keep the image of Lempira (L 1.00), Marco Aurelio Soto (L 2.00) and General Francisco Morazan (L 5.00), and on the reverse side, the National Emblem of the Republic of Honduras.