Urstromtaler

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Urstromtaler is a regional currency being used in the East German town of Magdeburg side by side with Euro. It equates one to one with Euro in terms of its local acceptance value and is accepted by several local shops and businesses. The supporters argue that this is helping the town socially by generating local business specially for small local shops which have to compete against Supermarkets. Magdeburg is a typical East German town which is struggling to like many former communist towns in terms of economic developments.

There are several other regional currencies that have sprung up in Germany and though they are not a direct threat to the German National Bank (Bundesbank) they are anyhow illegal and the National Bank is keeping an eye on the developments.