Exeter pound
 | |
| Unit | |
|---|---|
| Plural | Exeter Pounds |
| Symbol | £E |
| Denominations | |
| Symbol | |
| Banknotes | |
| Freq. used | £E1, £E5, £E10, £E20 |
| Demographics | |
| User(s) |  United Kingdom |
| Issuance | |
| Central bank | Exeter Pound CIC |
| Website | www |
The Exeter Pound (£E) is a form of local complementary currency, or community currency launched in Exeter, UK on 1 September 2015.[1] Its objective is to ensure more money is spent with local and independent businesses. It is one of the many alternatives in the UK to the official sterling currency, though it is backed by the Sterling.
Background
The Exeter Pound is a local and community currency that was designed to improve the local economy of Exeter.[2] It aims to support independent local traders and enhance local economic activity. The scheme is run by the Exeter Pound Community Interest Company[3] and makes a profit by setting an "expiry date" on each note, which is identified in very small print on the note itself, often overlooked at the point of exchange. This means that many notes although paid for at the equivalent value in sterling cannot actually be spent if not used by the specified deadline.
Previous to the Exeter Pound, local currencies were launched in the UK in Bristol (2012),[4] Totnes (2006),[5] Lewes (2008), Brixton (2009)[6] and Stroud (2010).
References
- ^ "Exeter launches city's local currency". bbc.co.uk. 1 September 2015.
- ^ "Exeter Pound: City Launches Own Currency". BBC West News. 1 September 2015. Retrieved 18 November 2015.
- ^ Richardson, Gordon (1 February 2015). "Q&A: Everything you need to know about the Exeter Pound". Express & Echo. Retrieved 18 November 2015.
- ^ Shane Hickey (7 June 2015). "The innovators: the Bristol pound is giving sterling a run for its money". The Guardian. Retrieved 18 November 2015.
- ^ Rob Sharp (1 May 2008). "They don't just shop local in Totnes – they have their very own currency". The Independent. Retrieved 25 September 2012.
- ^ Leo Hickman (16 September 2009). "Will the Brixton pound buy a brighter future?". The Guardian. Retrieved 25 September 2012.