The Exeter pound (£E) was a form of local complementary currency, or

community currency A community is a social unit (a group of people) with a shared socially-significant characteristic, such as place, set of norms, culture, religion, values, customs, or identity. Communities may share a sense of place situated in a given g ...

launched in

Exeter Exeter ( ) is a City status in the United Kingdom, cathedral city and the county town of Devon in South West England. It is situated on the River Exe, approximately northeast of Plymouth and southwest of Bristol. In Roman Britain, Exeter w ...

, UK on 1 September 2015. Its objective was to ensure more money was spent with local and independent businesses. It was one of the many alternatives in the UK to the official sterling currency. It was discontinued on 30 September 2018.

History

Previous to the Exeter Pound, local currencies were launched in the UK in

Bristol Bristol () is a City status in the United Kingdom, cathedral city, unitary authority area and ceremonial county in South West England, the most populous city in the region. Built around the River Avon, Bristol, River Avon, it is bordered by t ...

(2012), Totnes (2006),

Lewes Lewes () is the county town of East Sussex, England. The town is the administrative centre of the wider Lewes (district), district of the same name. It lies on the River Ouse, Sussex, River Ouse at the point where the river cuts through the Sou ...

(2008),

Brixton Brixton is an area of South London, part of the London Borough of Lambeth, England. The area is identified in the London Plan as one of 35 major centres in Greater London. Brixton experienced a rapid rise in population during the 19th century ...

(2009) and

Stroud Stroud is a market town and civil parish in Gloucestershire, England. It is the main town in Stroud District. The town's population was 13,500 in 2021. Sited below the western escarpment of the Cotswold Hills, at the meeting point of the ...

(2010). The Exeter Pound was a local and

that was designed to improve the local economy of Exeter. It aimed to support independent local traders and enhance local economic activity. The scheme was run by the Exeter Pound Community Interest Company. It made a profit by setting an "expiry date" on each note, as identified in small print on the note itself, after which it could not be spent. Exeter Pound CIC made the decision to discontinue the currency on 30 September 2018. Ian Martin, the company's director, claimed that societal moves toward cashless transactions and lack of regulatory framework to develop its own digital currency were key factors.

References

{{Pound (currency) Local currencies of the United Kingdom Pound (currency) Pound

History

See also

References