Local currency is the term used to refer to the currency used in a particular geographical location among the locals. It is used to facilitate transactions in the local economy and has economic value. Some synonyms for local currency include community currency, regional currency, alternative currency, complementary currency, local money, and neighborhood currency. Community currency is used to describe money that is only accepted within a particular community. A regional currency is a type of local currency that is used within a particular region. Alternative or complementary currency refers to a form of currency used alongside national currency while local money and neighborhood currency are self-explanatory.