Bristol Pound Currency will Launch in May 2012

Currency TradingThe English city of Bristol could soon be making history with the launch of the UK’s very first city-wide currency; the Bristol Pound is an initiative designed to boost the city’s economy and strengthen local trade.

The Bristol Pound is not the only alternative local currency used in the UK – the city of Totnes in Devon introduced the Totnes Pound in 2006, while the Lambeth city of Brixton launched its own city-wide currency, the Brixton Pound (B£), in 2009 and this currency is still thriving. However, the Bristol Pound will be the first local UK currency with the backing of a regulated financial services provider – in this case, the Bristol Credit Union. This means the currency can be used to pay not only for goods but also for bills.

As a forerunner to the Bristol Pound, the Brixton Pound serves as a stellar example of local currency; the B£ was even launched in electronic format last year, allowing local users to make instantaneous payments by text. Following the launch of the Bristol Pound notes, this new city-wide currency could also be developed to include an electronic format in the coming months.

Here’s a closer look at the UK’s latest alternative currency – the Why, How and When of the Bristol Pound:

Why?

The purpose behind the introduction of the Bristol Pound is to provide support to the city’s independent retailers and other businesses, stimulate the Bristol economy and build a sense of community among local consumers. Ideally, the widespread use of the Bristol Pound within the city will ensure that money spent in Bristol will stay in circulation in the city of Bristol. This will reduce the amount of money going into the financial systems of larger offshore corporations.

How?

The Bristol Pound can be exchanged with pound sterling, and one Bristol Pound will of course be equivalent to one British Pound. Locals can currently register for a Bristol Pound account online, after which they will be contacted with the appropriate registration forms. Those who choose to get involved with the Bristol Pound initiative are making a clear statement about their support for local businesses and the Bristol community.

When?

The Bristol Pound is due to launch on May 21st this year, and local residents have been asked to submit their ideas for the design of this local currency. The Bristol Pound will be available in £1, £5, £10 and £20 notes, and each will feature an image on both sides. Many Bristol locals are hoping for the honour of seeing their designs or illustrations appear on the brand-new Bristol Pound in May!

Nicky Warner is an enthusiastic writer with a special interest in UK news. Whether you’re an experienced foreign exchange broker, or just starting out with a new MT4 demo account, you’ll find Nicky has plenty of relevant financial and economic news to share.

 

Currencies to Watch Over the Next Few Months

Super Profit Scalper

Whether your interest lies in playing the Forex market, or you’re simply planning an overseas trip for the coming year, it’s worth your while to spend some time learning what global currency exchange is doing during these tumultuous times. The upheaval caused by the dramatic and sudden decline of the American economic situation had major ramifications which have echoed across the world, and most of us are feeling the impact.

If you’re planning an overseas trip and you’re negotiable on your destination, then you’re most likely constantly checking the various exchange rates, in the hope of selecting the most stable and best possible deal, but it’s been a trial to maintain a track of and more so to identify any discernible pattern. If you’re playing the Forex market, then you need even more assurance on the stability of your approach and investments, but this is difficult to come by.

Below I’ve listed some of the most popular opinions and estimations which are shared on the web, but please bear in mind that these are only the opinions of market players and government officials, certainty is never a possibility.

Asia:

The Asian market has been suffering along with other key players, and over the next few months, it’s predicted that the various currencies of the region will continue to devalue. On the upside, however, respected analysts have stated that they expect the region to begin a recovery early next year, leading to a strengthening of currencies. This upturn is attributed largely to an anticipated increase in import demands.

 

China:

As a major global player they, perhaps, deserve an entry independent of the Asian one. China’s overseas sales climbed 17.1 percent in September 2011, likely due to the low cost of their exports at a time when everyone is struggling to survive. The country currently has 3.2 trillion dollars held in reserve, and has shown impressive resiliency since the 2008 depression hit. The smart money is most likely on the Chinese, in terms of a good investment.

Australia:

The Australian dollar has always been a strong contender and a very stable forex trade commodity, but certainly took a hit of its own in recent times. Growth may have been slowed by the 2008 depression, but the Australian dollar fared better than most due to its strong export policy, consisting in large part, of raw materials which are always required by the global market. It seems that Australia is the master of another of the few currencies which have remained relatively stable and could see healthy growth in the coming year.

US and Europe

Needless to say, North America and the majority of Europe (especially England and Ireland) were savagely injured due to their investments in the USA. When the credit system of the US collapsed, the impact was widespread indeed and Ireland, for one, has suffered a chain reaction, the repercussions of which are still not fully clear. Although both the US dollar and the Euro have seemingly stabilized, this has been an opportunity for emerging currencies to gain trade-able strength.

Warren Kings writes on many different topics. Have a look at his latest articles on mt4 demo account and metatrader 4.