The Toronto Dollar was a local, complementary currency launched in 1998 by the St. Lawrence Market Neighbourhood Business Improvement Area (BIA) and social activist Reverend Bob Akroyd. Its mission was to foster local economic activity by encouraging residents to shop at independent, local businesses. The currency was pegged one-to-one with the Canadian dollar; when consumers purchased Toronto Dollars, 10% of the proceeds were directed to community organizations and charities as grants. The physical notes could then be spent at participating local businesses. The program was most prominent in the St. Lawrence Market and Riverdale areas but ceased operations in 2013 due to declining usage and administrative challenges.

Founded in

Canada