Friday, July 4, 2014

Alternative Currencies

There are alternatives to the USD or the Euro out there. One rapidly growing in popularity is the Bitcoin. Of course if you find the Bitcoin a bit esoteric and hard to grasp, in Cameroon there's always the beer bottle cap.

Local breweries are competing for customers by putting prize markings on the underside of the caps which are being used in place of the local currency, the CFA Franc. At
1 USD = 482.483 XAF one can see the appeal.

The value of a bottle of beer tends to remain constant regardless of the inflation the local piaster.

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