Exeter Opts Out of Sterling to Launch Local Currency

By Gary Cutlack on at

A particular type of money for a particular part of the country has gone into use this week, with the businesses of Exeter now accepting the Exeter Pound non-crypto normal paper sort of money in return for goods, service, pies and cakes.

The new cash simple enough to use, and comes with all the excitement of visiting a foreign country, but not actually going further away from your comfort zone than Devon. Local exchange points can swap UK pounds for Exeter Pounds, and the exchange rate is an easy to remember 1:1 -- so there's no getting ripped off when leaving Exeter.

The Exeter Pound initiative comes with a web site, naturally, where locals and visitors can find businesses that accept the local money. The idea being to keep money in the area, encouraging locals and visitors to spend their notes in independent high street retailers rather than heading to the Morrisons on Prince Charles Road to load up on BOGOFs.

And these aren't some tawdry black & white notes being run off by someone with a printer, either. The Exeter Pounds are extremely proper jobs, complete with watermarks and embedded UV fibres for security, lest some outsider with a fancypants London colour printer try to hoodwink the locals by running off some duplicates. [Exeter Pound via BBC]