Toronto Dollar

Filed Under: ,
Dictionary Says

Definition of 'Toronto Dollar'


A local currency used in Toronto, Canada, primarily in the St. Lawrence Market and Gerard Square areas. Only local businesses accept Toronto dollars, which are part of an initiative to encourage consumers to shop locally. Consumers can obtain Toronto dollars at designated local outlets and spend them with any local merchant that accepts them. Toronto dollars are paper bills that come in denominations of 1, 5, 10 and 20 dollars.
Investopedia Says

Investopedia explains 'Toronto Dollar'


In circulation, one Toronto dollar is worth one Canadian dollar. When consumers exchange Canadian dollars for Toronto dollars, ten cents of every Canadian dollar goes to support local community organizations and the other 90 cents goes into a reserve to support redemptions of Toronto dollars. Consumers receive one Toronto dollar for every Canadian dollar they exchange, but businesses only receive 90 cents for every Toronto dollar they redeem.
comments powered by Disqus
Hot Definitions
  1. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  2. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  3. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  4. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  5. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  6. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
Trading Center