Daily Archives: 27 June 2014

Anadolu Agency – By Steffen Stubager, Asger Mow & Ben Tavener

CIDADE DE DEUS, RIO DE JANEIRO – Businesses in the Rio de Janeiro favela (shanty town) community of Cidade de Deus aim to reinvigorate the use of a local currency, first brought in three years ago, in a bid to boost trade and prevent money from leaving the area.

In 2011, Cidade de Deus became one of the first communities in Rio to offer locals the option to use their own currency, known as the CDD.

Those using CDDs, instead of the country’s official currency, the Brazilian real, are given discounts and other perks. The project is one of hundreds used around Brazil.

Read Full Article