Calgary Dollar

AAA

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 TERMS
  1. Fiat Money

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

    A local currency used in Toronto, Canada, primarily in the St. ...
  3. Liberty Dollar

    An alternate currency created by Bernard von NotHaus in 1998 ...
  4. BerkShares

    A local currency used in the Berkshires, a region in western ...
  5. Silver Certificate

    Former legal tender (paper currency) issued by the U.S. government ...
  6. Monetary Policy

    The actions of a central bank, currency board or other regulatory ...
RELATED FAQS
  1. What is the difference between a forward rate and a spot rate?

    The forward rate and spot rate are different prices, or quotes, for different contracts. The forward rate is the settlement ... Read Full Answer >>
  2. Is credit a form of fiat money?

    To understand why credit is a form of fiat money, one must first understand what money is. At its most basic level, money ... Read Full Answer >>
  3. What is the difference between fiat money and representative money?

    Fiat money is physical money (paper money and coins), while representative money is something that represents intent to pay ... Read Full Answer >>
  4. What is the difference between fiat money and legal tender?

    Fiat money does not have any intrinsic value. What value it has depends on public confidence in the currency's issuer. Legal ... Read Full Answer >>
  5. Is fiat money more prone to inflation than commodity money?

    The value of fiat money is based largely on public faith in the issuer. Commodity money's value is based on the material ... Read Full Answer >>
  6. What developed countries have the greatest exposure to the automotive sector?

    The developed countries with the greatest exposure to the automotive sector are Japan and Germany. This is based on exposure ... Read Full Answer >>
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. Forex

    10 Cities Leading Bitcoin Adoption

    An overview of the global cities leading the way in using the virtual currency Bitcoin.
  7. Forex

    Beware of these Five Bitcoin Scams

    We look at five bitcoin scams and how to protect yourself from fraud.
  8. Investing

    Fundamentals Of How Canada Makes Its Money

    In terms of industry, Canada is best known for oil and gas production, but the second largest country in the world has quite the diversified economy.
  9. Mutual Funds & ETFs

    Invest in Emerging Market Currencies with this ETF

    Why this emerging market currency ETF needs to be on your radar.
  10. Forex Education

    What Is A Currency War And How Does It Work?

    We look at what a currency war is, what factors may lead to it, the impacts of such a strategy, and whether there is a currency war currently.

You May Also Like

Hot Definitions
  1. Expected Return

    The amount one would anticipate receiving on an investment that has various known or expected rates of return. For example, ...
  2. Carrying Value

    An accounting measure of value, where the value of an asset or a company is based on the figures in the company's balance ...
  3. Capital Account

    A national account that shows the net change in asset ownership for a nation. The capital account is the net result of public ...
  4. Brand Equity

    The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. ...
  5. Adverse Selection

    1. The tendency of those in dangerous jobs or high risk lifestyles to get life insurance. 2. A situation where sellers have ...
Trading Center