WASHINGTON — You’ve heard the expression “breaking a $20”? Well, in a remote region of Quebec, they’re doing just that.
In the Gaspe region of Quebec, in northeastern Canada, residents are taking $5, $10 and $20 bills and cutting them in half — a monetary innovation they’re calling the “demi” (French for “half”). And local merchants are accepting the bills at half value, the Canadian Broadcasting Corp. reports.
Michelle Secours, a business owner from Caplan, says the demi is a sign of commitment to local businesses, since they’re the only ones who will take them: “You have to be kind of in the know to use it, so it’s creating a tight network. It’s not going to be accepted in a depanneur in Montreal, so it’s a way for us to consolidate our money here.”
The Bank of Canada says the idea isn’t illegal, but they don’t like it. They call the bills “a symbol of our country and a source of national pride,” and that to cut them up is “inappropriate.” They also can refuse to replace a cut bill if they think it was done deliberately.
Some Gaspe residents don’t seem to care. Martin Zibeau, of Saint-Simeon, says he knows at least a dozen people who use the demi, and says it’s “funny.”
h/t TIME
