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The Importance of Regional Currencies
is Increasing

In some countries, regional currencies complement the use of national currency.
These are quite often community currencies, which may or may not be private currencies.

There also are sectoral currencies - such as the ones used in certain areas like agriculture or education (alternative currencies that for instance students and/or teachers can use within the educational system).

Local currencies generally cannot be used outside the delimited geographical region and they tend to have their own different interest rate.

These currencies also tend to have a low level of inflation.

National governments tend to discourage the usage of local money, because they believe this creates a parallel economy, escaping the government-controlled financial system.

As of early 2014, there are over 2,500 different local currencies in the World.

Europe and South America have the largest numbers of local currencies. In the UK alone there are several hundreds (!).

Amid the spread of virtual currencies, the regional ones have proven to be more stable, thus more reliable.

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