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. |
|
Investopedia explains '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 Definitions
Articles Of Interest
-
A Holistic Approach To Trading Gold
Combine technicals and fundamentals to tune out noise and confirm trends in this commodity. -
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. -
The History Of Money: Currency Wars
Find out how conflicts have changed the role money plays in our lives. -
Global Trade And The Currency Market
Learn how the Bretton Woods system got the ball rolling for world trade. -
The New World Of Emerging Market Currencies
Take advantage of foreign currency markets without stepping out of your house. -
The Yen Is Setting Up To Be An Attractive Long-Term Investment
As Japan embarks on quantitative easing, the yen has come under pressure. Will it continue to be the source of big profits in the latter half of 2013? -
The Impact Of Mark Carney Leaving Bank Of Canada To Take Over Bank Of England
Canada's loss is the U.K.'s gain, as Mark Carney goes overseas to take over the Bank of England. -
5 Products Canadians Pay Way More For
Here are certain categories of goods and services that are usually cheaper in the U.S. than in Canada. -
3 Costly Spelling Errors
History has proved that some spelling errors can cost companies and governments millions of dollars. -
Canadian Grants And Tax Credits Fund Education
RESPs and other grants help parents save for post-secondary education for their children.
Free Annual Reports