eurocurrency
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Eurocurrency is currency held on deposit outside its home market, i.e., held in banks located outside of the country which issues the currency. For example, a deposit of US dollars held in a bank in London, would be considered eurocurrency, as the US dollar is deposited outside of its home market.
~17 min read
Encyclopedic overview
20 sectionsContents
- History
- Background Information
- Drivers of Eurocurrency in the 1950s
- Competitive Advantage of London
- Currencies
- Eurocurrency Markets
- Eurodollar Market
- Euroyen Market
- Euroeuro Market
- Europound Market
- Eurocurrency Network
- Regulations and Domestic Policy
- Regulatory History
- Usage of Reserve Requirements
- Eurocurrency and Interest Rates
- Eurobanks
- Eurocredits
- See also
- References
- Further reading
Eurocurrency is currency held on deposit outside its home market, i.e., held in banks located outside of the country which issues the currency. For example, a deposit of US dollars held in a bank in London, would be considered eurocurrency, as the US dollar is deposited outside of its home market.
The Euro- prefix does not refer exclusively to the "euro" currency or the "eurozone", as the term predates the creation of the euro. Instead, it can be applied to any combination of deposits in a foreign bank outside of its home market e.g. a deposit denominated in Japanese yen held in a Swiss bank is a Euroyen deposit.
Excerpted from Wikipedia’s “eurocurrency” article, available under the CC BY-SA 4.0 licence.
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