Lempira (Lenca ruler) in 1537. Historical accounts of Lempira differ. Antonio de Herrera y Tordesillas, whose account was published in "Historia general de los hechos de los castellanos ..." (1626), in Seville, Spain, identifies Lempira as a war captain appointed by Entipica, leader of the Cares, a named subgroup of the Lenca. Herrera reports that Lempira, whose name means something like "Lord of the Mountains" in Lenca, commanded over 30,000 soldiers from over 200 different Lenca towns. In 1537, there were widespread indigenous uprisings in Honduras, and the Cares were one group that revolted against Spanish rule. The Spaniards, on instruction from their
History of monetary policy in the United States rate is floating. If the exchange rate is pegged or managed in any way, the central bank will have to purchase or sell foreign exchange. These transactions in foreign exchange will have an effect on the monetary base analogous to open market purchases and sales of government debt; if the central bank buys foreign exchange, the monetary base expands, and vice versa. But even in the case of a pure floating exchange rate, central banks and monetary authorities can at best "lean against the wind" in a world where capital is mobile. Accordingly, the management of the exchange rate will