What is a Calgary Dollar
The Calgary dollar is a local overseas cash complex for and used most efficient thru voters of Calgary, Alberta, Canada. Calgary greenbacks are part of an initiative to inspire local consumers to shop for on the subject of space, to personalize monetary family members, to nurture some way of community, and to increase each and every local self-sufficiency and bioregionalism.
Key Takeaways
- The Calgary dollar is a local complementary overseas cash for the community of Calgary, Canada.
- First issued in 1996, the aim is promote it local monetary procedure and community industry relationships.
- Proponents hope that thru the use of Calgary greenbacks, the community can also have the same opinion decrease carbon emissions thru cutting down on the amount of goods which may well be transported long distances.
Understanding Calgary Dollar
The Calgary dollar, abbreviated as C$, is a local overseas cash that isn’t backed thru Canada’s executive. This can be a complementary overseas cash that is designed to function alongside the Canadian dollar (CAD) reasonably than alternate it.. You’ll’t earn passion thru saving Calgary greenbacks; they are intended most efficient to be spent in industry.
The Calgary dollar program was once established in 1996 thru a local nonprofit enterprise known as the Arusha Centre, which has managed and operated the program ever since. When it was once first presented, the overseas cash was once known as Bow Chinook Hours, on account of Calgary is outstanding during the Bow River and the warm chinook winds that give the realm a respite from the cold of winter. The Calgary greenbacks moniker was once formally adopted in 2002.
So that you could participate throughout the Calgary dollar program, consumers and buyers must sign up for it. One Calgary dollar has the an identical price as one Canadian dollar, and they may be able to be used to shop for in the neighborhood all elementary will have to haves, similar to foods, garments and transportation along with discretionary very good arts and leisure items. The system is jail and firms pay taxes on any Calgary greenbacks they earn.
Participating local buyers can choose to easily settle for Calgary greenbacks for 25 % to 100% of the price of their pieces and products and services and merchandise. A purchaser would perhaps pay for a $20 achieve with $5 in Calgary greenbacks and $15 in Canadian greenbacks at a industry that accepts 25 % Calgary greenbacks. Calgary greenbacks are to be had denominations of $1, $5, $10, $25 and $50 greenbacks. By contrast to most forms of paper-based money tactics, the Calgary dollar is produced from plastic. In 2018, the Calgary dollar movement went digital via a mobile app for e-payments.
Calgary Dollars and Bioregionalism
Probably the most primary drivers behind the discharge of the Calgary dollar system was once to have the same opinion building up the concept that and adoption of bioregionalism. Bioregionalism encourages voters to turn into additional intimately familiar with and relying on local foods, materials and resources so that you can turn into additional self-sufficient.
As an example, the movement encourages other people to start out out a local farm or garden at space, reasonably than buying vegetables at a big grocery store, on account of store-bought produce depends upon petroleum, natural gas and chemical substances used in pesticides, fertilizers, large-scale foods production and delivery. Calgary greenbacks have the same opinion stimulate bioregionalism on account of local overseas cash emphasizes local products over those that were grown or created hundreds of miles away.
