What does LCY mean in Currencies?
This page is about the meanings of the acronym/abbreviation/shorthand LCY in the Regional field in general and in the Currencies terminology in particular.
Submitted by Kyle205 on November 18, 2007
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Definition
What does LCY mean?
- Local currency
- In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area, while a community currency might be local or be used for exchange within an online community. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses. Such currencies may not be backed by a national government nor be legal tender. About 300 complementary currencies, including local currencies, are listed in the Complementary Currency Resource Center worldwide database.
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"LCY." Abbreviations.com. STANDS4 LLC, 2024. Web. 20 May 2024. <https://www.abbreviations.com/term/396424>.
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