Bloomberg (gated) had the report of a poor region of Argentina introducing its own currency, the chacho.
province of La Riojaits governor, Ricardo Quintela, created the province’s own currency, the chachogiven out in lumps of 50,000 to all government employees as a ‘bonus payment’a gas station in the provincial capital city had business jump by 10% on the morning the chacho was distributed
While Bloomberg is gated, here is the link if you can access it.
This article was written by Eamonn Sheridan at www.forexlive.com.
