Small Scot community start their own currency

The People’s Bank of Govanhill, in the south side of Glasgow, has a variable exchange rate which works out on average at one pound sterling to one Govanhill pound. The suggested figure for a Govanhill pound is a hundredth of a person’s weekly income but people are asked to pay what they can. Those living below the breadline benefit from the generosity of those who are better off in the area as the more money that they put in then the more their note is worth.