Tumin (currency)

Túmin [ˈtuːmin] is an alternative currency used in the municipality of Espinal, Veracruz, Mexico. Its name means "money" in the Totonac language. (Note that this word in Totonac is borrowed from the old Spanish coin the "tomín" [www.rae.es]). Espinal is a municipality of some 2600 inhabitants, 19% of whom are indigenous Totonac people. Used as a complementary currency, the Tumin was first put in circulation in 2010 as a student project at the Intercultural University of Veracruz, where students were trying to find ways of strengthening the local economy. In Espinal the access to cash is scarce as most people work for the minimum wage. The project creators analyzed the economy of the area and concluded that there were sufficient goods and demand, but that a medium of exchange was lacking. T

Tumin (currency)

Túmin [ˈtuːmin] is an alternative currency used in the municipality of Espinal, Veracruz, Mexico. Its name means "money" in the Totonac language. (Note that this word in Totonac is borrowed from the old Spanish coin the "tomín" [www.rae.es]). Espinal is a municipality of some 2600 inhabitants, 19% of whom are indigenous Totonac people. Used as a complementary currency, the Tumin was first put in circulation in 2010 as a student project at the Intercultural University of Veracruz, where students were trying to find ways of strengthening the local economy. In Espinal the access to cash is scarce as most people work for the minimum wage. The project creators analyzed the economy of the area and concluded that there were sufficient goods and demand, but that a medium of exchange was lacking. T