Eurocurrency

Eurocurrency definition - business

Eurocurrency

Funds deposited in a bank when those funds are denominated in a currency differing from the bank's own domestic currency. Eurocurrency applies to any currency and to banks in any country. Thus, if a Japanese company deposits yen in a Canadian bank, the yen will be considered Eurocurrency.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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