Eurocurrency

A currency held 'offshore' as a deposit outside its domestic territory (the country which issued the currency). Neither the domestic territory of the currency, nor the location of the deposit, need be in Europe. The origin this term - which became established before the creation of the euro - was in 'Eurodollars'. Eurodollars were originally US dollars deposited - for example - in the UK.

See also

• Eurobanks
• Eurobond
• Eurocredit
• Eurocurrency markets
• Eurodollars
• Euronote
• International bond