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Local currency

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In economics, a local currency, in its common usage, is a currency not backed by a national government (and not necessarily legal tender), and intended to trade only in a small area. These currencies are also referred to as community currency. They encompass a wide range of forms, both physically and financially, and often are associated with a particular economic discourse. Free banking provides the... Read enhanced Wikipedia article
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    Local currency

    Network of German local currencies ... Ithaca Hours An example of a local currency system functioning in the US.
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    Currency

    Advocates of the old system of Free Banking repealed central banking laws, or slowed down the adoption of restrictions on local currency.
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    Monetary policy

    With the advent of larger trading networks came the ability to set the price between gold and silver, and the price of the local currency to foreign currencies.
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    Alternative currency

    LETS, an example of Mutual credit, is a type of local currency used in a number of small communities worldwide.
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    Complementary currency

    Complementary community currency (CCC) is a hypernym (superordinate) of local currency (also referred to as community currency) and sectoral currency.
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    Hard currency

    In some cases, an economy may choose to abandon local currency altogether and adopt a hard currency as legal tender.
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    Hyperinflation

    The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency.
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    Dynamic currency conversion

    When cardholders are not given the option to choose the local currency until they are handed the slip to sign, this entails a tough situation.
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    World currency

    A world currency is at one extreme of a conceptual spectrum that has local currency at the other extreme.
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    1997 Asian Financial Crisis

    Monetary authorities spent more than US$1 billion to defend the local currency.

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Local currency