Calgary Dollar

DEFINITION of 'Calgary Dollar'

A local currency used in Calgary, Canada. Calgary dollars are part of an initiative to encourage consumers to shop locally, to personalize economic transactions, to foster a sense of community and to increase local self-sufficiency/bioregionalism. Because it is not intended to replace the Canadian dollar, but rather to function alongside it, the Calgary dollar is considered a complementary currency. It is not possible to earn interest by saving Calgary dollars; they are meant to be spent.


Formerly known as a Bow Chinook Hour.

BREAKING DOWN 'Calgary Dollar'

A nonprofit group called the Arusha Centre founded the Calgary Dollars program in 1996 and has operated it ever since. Consumers and merchants must sign up to participate. Calgary dollars are plastic bills that come in denominations of 1, 5, 10, 25 and 50 dollars. They can be used to buy all the basics, like food, clothing and transportation as well as arts and leisure items. Calgary dollars are essentially a barter system. The system is legal and businesses pay taxes on the Calgary dollars they earn.


Participating local merchants can choose to accept Calgary dollars for 25% to 100% of the price of their goods and services. A customer might pay for a $20 purchase with $5 in Calgary dollars and $15 in Canadian dollars at a business that accepts 25% Calgary dollars.

RELATED TERMS
  1. Currency

    Currency is a generally accepted form of money, including coins ...
  2. Monetary Policy

    Monetary policy is the actions of a central bank, currency board ...
  3. Fiat Money

    Currency that a government has declared to be legal tender, but ...
  4. Toronto Dollar

    A local currency used in Toronto, Canada, primarily in the St. ...
  5. BerkShares

    A local currency used in the Berkshires, a region in western ...
  6. Liberty Dollar

    An alternate currency created by Bernard von NotHaus in 1998 ...
Related Articles
  1. Investing

    A Holistic Approach To Trading Gold

    Combine technicals and fundamentals to tune out noise and confirm trends in this commodity.
  2. Personal Finance

    The Currency Board: Understanding The Government's Bank

    Currency board, central bank - what's the difference? Find out more about this little-known monetary authority.
  3. Forex Education

    The History Of Money: Currency Wars

    Find out how conflicts have changed the role money plays in our lives.
  4. Forex Education

    Global Trade And The Currency Market

    Learn how the Bretton Woods system got the ball rolling for world trade.
  5. Forex Education

    The New World Of Emerging Market Currencies

    Take advantage of foreign currency markets without stepping out of your house.
  6. Personal Finance

    5 Places Where Your Travel Dollar Goes Furthest

    The dollar is pretty strong right now, but where is it strongest? Canada? South Africa? Europe? Here are five places to travel to right now on a budget.
  7. Investing

    3 Things About International Investing and Currency

    As world monetary policy continues to diverge rocking bottom on interest rates while the Fed raises them, expect currencies to continue their bumpy ride.
  8. Forex Education

    Four Currencies Under the Spotlight in 2016

    With currencies having become the “tail that wags the dog,” in terms of their impact on the global economy, these four currencies will be under the spotlight in 2016.
  9. Investing News

    Chinese Currency Devaluation Hits Global Economy

    China's surprise currency devaluations have sent shock waves through the world. Here’s how they could impact the global economy.
  10. Investing

    2 Opportunities Amid Today’s Market Volatility

    As you prepare your portfolio for the market volatility ahead this year, here are a few investing ideas to consider.
RELATED FAQS
  1. Is Bitcoin legal in the US?

    The digital currency known as bitcoin was created in 2009 by a person called Satoshi Nakamoto, but whose true identity has ... Read Full Answer >>
  2. Is Canada a developed country?

    Canada is a developed country. Countries that are considered to have developed economies exhibit strength in typical economic ... Read Full Answer >>
  3. Are Canadian Pension Plans inflation-protected?

    The Canada Pension Plan protects pension holdings against inflation and adjusts its annual rates for inflation. The Canada ... Read Full Answer >>
  4. Are tax shelters legal in Canada?

    Most tax shelters are legal in Canada. However, there have been illegal tax shelter scams that the Canada Revenue Agency ... Read Full Answer >>
  5. Does Canada have Social Security numbers?

    Social Insurance numbers (SINs) in Canada are equivalent to Social Security numbers (SSNs) in the United States. Canadian ... Read Full Answer >>
  6. Who decides to print money in Canada?

    In Canada, new money comes from two places: the Bank of Canada (BOC) and chartered banks such as the Toronto Dominion Bank ... Read Full Answer >>
Hot Definitions
  1. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
  2. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
  3. Discouraged Worker

    A person who is eligible for employment and is able to work, but is currently unemployed and has not attempted to find employment ...
  4. Ponzimonium

    After Bernard Madoff's $65 billion Ponzi scheme was revealed, many new (smaller-scale) Ponzi schemers became exposed. Ponzimonium ...
  5. Quarterly Earnings Report

    A quarterly filing made by public companies to report their performance. Included in earnings reports are items such as net ...
Trading Center