The term "local currency" refers to a form of money that is used in a specific geographic area, usually within a country or region. It is distinct from national currencies such as the US dollar, Euro, Yen etc., which are widely accepted and used across countries. Local currencies are generally not legal tender and are often used alongside national currencies for transactions within local communities. They can be issued by local governments, non-profit organizations or community groups to promote economic development, support small businesses, and encourage spending within the local economy. Examples of local currencies include time banks, where members exchange their skills and services for credits that can be redeemed for goods and services from other members; and LETS (Local Exchange Trading Systems), which are similar to time banks but also allow for trading with non-members.